Finland’s Atria has signalled its intention to expand its operations in Russia through the acquisition of loss-making meat processor OOO Campomos from Spain’s Campofrio Alimentacion.
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The deal has been valued at around EUR75m (US$117.2m).
Campomos operates in the Moscow and St Petersburg regions, primarily producing meat products and pizzas. Its largest brand is KampoMos, which a variety of meat goods – such as frankfurters – are produced under.
Campomos has a production plant and logistics centre in Moscow and a distribution centre in St Petersburg. In addition, the company owns a pork breeding facility with 2,500 sows.
Atria said that, despite 2007 sales of EUR75m, the company has been loss-making in recent years. Nevertheless, Atria maintains that the move will provide it with a solid footing in the Russian food sector.
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By GlobalData“Campomos has a well established distribution network, well-known brands, a broad portfolio of products and modern, well-maintained equipment,” a spokesperson for Atria told just-food. “This strategic acquisition will give us a good foothold in the burgeoning modern retail markets in Moscow and St Petersburg.”
Atria said that the deal was subject to approval from the Russian competition authorities. The company predicted that the acquisition would be completed by October.
