Israeli food group G. Willi-Food has signed a deal to buy a majority stake in a Russian poultry firm belonging to new owner Arcady Gaydamak, the Israeli-Russian billionaire.
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Willi-Food has signed a memorandum of understanding to acquire a 51% stake in poultry firm Agrosoyuz for US$32.6m.
The plan is to merge Gaydamak’s eggs and poultry business in Russia with Willi-Food, which will then manage his food business in the country.
Gaydamak is reportedly the largest supplier of eggs in Moscow and the surrounding region and the merger will give Willi-Food a foothold in the Russian market.
Willi-Food also intends to begin marketing kosher food products to Moscow’s Jewish community.
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By GlobalData
