Italian pasta group De Cecco has acquired Russian firm PMK from local holding company Ekooffice.
As part of the EUR40m (US$55.2m) deal, De Cecco will obtain the control of three production plants in Moscow, Smolensk and Saint Petersburg in addition to a Moscow based commercial and logistical services company.
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De Cecco said PMK is one of the biggest pasta producers in the Russian Federation with 10% of the market share and a yearly production of 100,000 tonnes of pasta.
De Cecco added that it will focus on improving the manufacturing quality of the acquired Russian plants. The Italian Group said the deal strengthens its international standing.
The industrial and commercial group PMK sold to De Cecco by the Russian Holding Ekooffice employs 660 people.
In addition, De Cecco plans to strengthen its Italian production plants in Fara San Martino and Ortona (Chieti) through a EUR30m investment.
