One of Russia’s largest pasta producers, Extra-M, has been bought up by Agros, the Russian agricultural company, in a “multi-million dollar deal”.
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Neither party would reveal the exact selling price to just-food.com.
The purchase follows Agros’ recent purchase of a major pasta factory in St Petersburg, meaning that the company now controls 22% of Russia’s pasta market.
Extra-M enjoys around half of the Moscow market and about a fifth of the national market. Last year, it sold 70,000 metric tons of pasta, earning more than US$33m. Agros controls 3% of the national grain market and has the second-largest granary capacity. It exports 4% of its output.
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By GlobalData
