Seafood producer Royal Greenland has entered into a joint venture agreement with Russian distributor Agama.
The firm said that through the construction of a new packaging facility just outside of Moscow, the deal will allow it to strengthen its position in the Russian market.
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The facility, which will be built in cooperation with Agama, will cook and pack shell-on cold water prawns for the growing Russian market and is expected to commence operations on 1 September.
Agama Group, a large player within the frozen foods market in Russia in both retail and food service, will package products for both companies as well as external operators if capacity allows.
Royal Greenland will supply the raw material and Agama will be in charge of distribution.
“At Royal Greenland, we expect that this joint venture will reinforce our position in the Russian market and create growth and development for our operations in Eastern Europe in general,” the company said.
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