UK-listed Russian meat group Cherkizovo has bought a controlling stake in a meat processing plant in Kaliningrad.

The company said today (16 September) that the plant will focus on smoked products, hams and cooked sausages.

Cherkizovo said the US$4.1m deal was part of its strategy to increase the "high-margin" part of its portfolio. The company said it plans to spend $2.5m to restructure the plant.

CEO Sergey Mikhailov said: "We have recently taken measures to restructure our meat processing business and reduce costs. The restructuring results are now emerging, with the segment becoming steadily more profitable this year. This acquisition, ideally located in the Kaliningrad region is fully in line with our strategy to increase efficiency and provide a stable base for our meat processing segment."