Acquisitive Russian meat group Cherkizovo has bought a poultry facility based in the country’s Penza region, around 600km south-east of Moscow.
Cherkizovo announced the US$5.2m acquisition of the Zarechnaya facility today (30 September) and said the site has the capacity for 1.55m broiler hens.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
The group said it would spend $18m upgrading the facility, which is expected to be up and running from the fourth quarter of 2011.
Cherkizovo CEO Sergey Mikhailov said: The acquisition of the Zarechnaya poultry facility is fully in line with our strategy to develop our vertically integrated production facilities. Our investment in this project will improve the capacity and efficiency of our operations as we seek to meet the growing demands of the domestic market for high-quality Russian-produced meat products.”
Two weeks ago, Cherkizovo said it had bought a controlling stake in a meat processing plant in Kaliningrad.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData
