Cherkizovo Group, a leading Russian integrated and diversified meat producer, has reached an agreement to acquire 100% of Mosselprom, a large diversified vertically-integrated agro-industrial holding company.
The acquisition by, Cherkizovo Group which has a leading market position in poultry, pork and meat processing is part of its strategy of dynamic development. The transaction may be completed following and based upon legal and financial due diligence. The transaction is also subject to the mandatory review and approval by the Russian anti-monopoly authorities.
The inclusion of this large producer into the Cherkizovo Group may significantly increase the scope of the company’s activities, and also increase Cherkizovo’s market share in Russia’s poultry segment. In 2010 Cherkizovo Group had 7% of the market and Mosselprom 2%.
Source: Cherkizovo Group