Russian meat producer Cherkizovo Group has agreed to acquire a chicken processing facility from Cargill located in Efremov in the Tula region.
The move will help the company to increase its share of value-added products and expand its presence among clients in the foodservice sector.
'Another Asset'
Cherkizovo’s CEO, Sergey Mikhailov, commented, “We are excited to add another asset for foodservice clients to our portfolio.
“Being a vertically integrated meat producer, we see significant synergies of a newly acquired plant with our existing supply chain, and have plans to increase capacity at this particular plant over time.”
The deal, expected to close in a few months, is subject to regulatory approval from Russian authorities, the company added.
© 2020 European Supermarket Magazine – your source for the latest retail news. Article by Dayeeta Das. Click subscribe to sign up to ESM: The European Supermarket Magazine.
