Ufa, Russia — December 16 — Cherkizovo Group (MOEX: GCHE), Russia’s largest meat producer, announces the sale of JSC Bashkir Poultry Farm. The facility, which was acquired in December this year along with other assets of Russian Grain Ufa, produces marketable eggs, and as such is not aligned with the Cherkizovo’s business.
AIC Mikhailovsky, part of Cherkizovo Group, signed an agreement on Thursday, December 15, to sell 100% of JSC Bashkir Poultry Farm. The buyer was Agricultural Asset Management LLC. The deal was closed for a total cash consideration of RUB 2 billion.
JSC Bashkir Poultry Farm had been acquired by Cherkizovo Group on December 8 along with other assets of Russian Grain Ufa, the largest poultry producer in Bashkortostan. Cherkizovo Group won an open auction for all of the seller’s assets: poultry farms, meat processing facilities, a feed mill, and agricultural land.
Bashkir Poultry Farm specializes in marketable eggs production, which is not in line with Cherkizovo Group’s business profile. Hence, the Company decided to sell this asset and quickly found the buyer. The poultry farm is the leading supplier of marketable eggs in the region: its annual capacity reaches 750 million eggs. The poultry farm’s products are sold across 13 Russian regions in the Volga, Urals, Central, and Southern Federal Districts.
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