The price tag in rubles comes to about 125 million, of which 73.6 million rubles will be paid in cash. The group is also taking on the company's debts, which at the time of purchase stood at 51.4 million rubles ($1.7 million). Cherkizovo plans to put some $2.5 million into re-profiling the outfit into focusing on producing smoked meat products, ham, and boiled sausages.
The complex is located in a free economic zone in the town of Pravdinsk that has customs preferences that make selling product with high added-value in the European part of Russia advantageous, the statement says.
Cherkizovo Group, which was formed in 2005, includes seven meat- processing companies in the Moscow region, Penza, Ulyanovsk, Belgorod and Rostov regions and Krasnodar territory, four hog complexes, two poultry farms and a feed plant. The company raised $251 million with an IPO in London in May 2006. The company is controlled by Igor Babaev and members of his family.
Petelinka, one of Cherkizovo Group’s flagship brands and the best-selling chicken product, has entered into partnership with the iconic GUM Ice Rink, which opens annually on Red Square. This year, visitors will have an opportunity to take a break in the cozy Petelinka cottage and take photos next to a Christmas tree standing on chicken legs.
Cherkizovo Group employees have held a volunteer event supported by the Ray Foundation for Helping Homeless Animals. They brought food, medicines and other useful supplies to two Moscow shelters and helped with dog walking.
Cherkizovo Group’s chicken and turkey products have once again been awarded the annual Product of the Year title, with flagship brands Petelinka and Pava-Pava winning two categories of the award.
Cherkizovo Group, Russia's largest meat producer, is taking part in Our Brand, an international food festival in Ufa. The Company showcased its products during a tasting session at its stand.