Russian meat giant acquired a 75% stake in Samson - Food Products
The company has signed a sale-purchased agreement to acquire 75% of St Petersburg-based Samson – Food Products (SFP).
Cherkizovo said in a statement that the acquisition is approved by the Russian Federal Antimonopoly Service (FAS), the cost reaching RUB350 million, with ca. RUB550 million (€7.1 million) in debt to be assumed on top. The final price will be based on SFP’s performance in 2019.
This deal is set to strengthen Cherkizovo’s position in St Petersburg and the North-Western Federal District (NWFD) – a region that the Group has been closely focused on since 2017. The Company estimates that its Petelinka brand currently accounts for 29% of branded poultry sales in the largest retail chains across the NWFD. Pava-Pava has captured 53% of the turkey market, while Cherkizovo’s pork sales account for 8% of the branded segment.
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