Hungarian canning company Globus has said that it has acquired Polish frozen food company Elsner Poland for €5m, with a view to expanding on the Russian market.

The deal, which was partly financed from the sale of production assets in southwest Hungary, fits into Globus's strategy of shifting towards frozen foods production, reported Reuters.

Elsner Poland, which comprises four factories, was fully owned by F J Elsner & Co which is a subsidiary of Austria's Raiffeisen Zentralbank.