Cherkizovo Group to acquire share capital of Chicken Kingdom
Leading Russian meat producer, Cherkizovo Group, has signed a Memorandum of
Understanding anticipating the acquisition of 100% share capital in the holding company of
Chicken Kingdom is one of the largest Russian poultry producers with a
fully integrated poultry production cycle and operations. The company produces
chilled and frozen poultry products under the "Chicken Kingdom" brand name. In
2006, annual volumes were approximately 70,000 tons.
Sergey Mikhailov, CEO of Cherkizovo: "This acquisition is a major step
forward for Cherkizovo as we continue to benefit from the ongoing consolidation
within the Russian poultry producing market. The deal makes us the number one
chicken producer in Russia, and at the same time strengthens our position in the
central region of the European part of Russia."
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