Russia's top meat producer to buy poultry firm Altaisky BroilerStaff Writer | July 26, 2018
Cherkizovo Group, the largest vertically integrated meat producer in Russia, has announced signing a letter of intent to acquire Altaisky Broiler.
Acquisition Cherkizovo is a major Russian agro industrial group
In line with its focus on extensive business growth, Cherkizovo Group signed a letter of intent to buy one of Russia’s largest poultry producers, Altaisky Broiler.
The transaction will be closed after legal and financial due diligence of the target company is completed, and the final acquisition price is yet to be determined by the parties.
The anticipated acquisition is also subject to approval by the Russian Federal Antimonopoly Service.
In 2017 Altaisky Broiler produced 67 thousand tons (live weight) of poultry products. An acquisition of this size will enable Cherkizovo to considerably expand its business footprint, open up access to the Siberian market, and add one of the strongest and most popular local brands to the Group's portfolio.
This will also strengthen Cherkizovo's positions in the poultry market and increase its share among domestic poultry producers to 12%.
The No. 1 poultry producer in the Altai Territory, Altaisky Broiler is also among the largest poultry producing companies in the Siberian Federal District. The company supplies frozen and chilled whole chickens, chicken meat, and by-products. ■