Russian meat processor Cherkizovo announced today (30 March) that it has reached an agreement to acquire agro-industrial group Mosselprom.
The company said that as part of its strategy of “dynamic development” it has reached an agreement to potentially acquire a 100% stake in Mosselprom following legal and financial due diligence.
Go deeper with GlobalData
According to Cherkizovo, it holds 7% market share of the Russian poultry market, while Mosselprom holds 2% share.
The transaction remains subject to approval by Russian anti-monopoly authorities.
Yesterday, the company said that net income increased by 21% during 2010 to reach US$144.4m, while revenue was up 17% to $1.19bn.
It added that it expects a “challenging” 2011 as rising grain prices increase its costs, while it anticipates that it won’t be able to offset these costs with higher prices.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData
