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RUSSIA: Cherkizovo buys greenfield pork sites.
Russian meat processor Cherkizovo has acquired two greenfield pork farms for US$100m.
The firm’s board of directors approved the purchase of the facilities, which are located in the Penza and Lipetsk regions of central Russia, at a meeting yesterday (3 June).
Around $20m of the purchase price will be payable in cash and the group will assume the acquired entities' outstanding debt at the time of acquisition, which is expected to be around $80m.
Sergey Mikhailov, CEO of Cherkizovo, said: "We are pleased that the independent members of the board of directors approved the transaction. We anticipate finalising the acquisition in the second half of 2010. This deal will be a milestone in the consolidation of Russia's meat market and an exciting development in the company's stated strategy to deliver shareholder value."
The complexes are expected to reach their full combined capacity of 25,000 live-weight tonnes by 2012, resulting in an increase in Cherkizovo's pork production capacity of almost 30% from the group's current overall pork production capacity.
Expert RA upgrades Cherkizovo Group’s rating to ruAA-
01 june 2023
Expert RA upgrades Cherkizovo Group’s rating to ruAA-
Cherkizovo Group (MOEX: GCHE), Russia’s largest meat producer, announces that Expert RA has upgraded its credit rating to ruAA- and revised its outlook from positive to stable.
Cherkizovo Group and Smenka complete renovation of school canteens in Russian regions
29 may 2023
Cherkizovo Group and Smenka complete renovation of school canteens in Russian regions
Cherkizovo Group and Smenka, a social initiative and YouTube show, have successfully completed a joint project to renovate school canteens. As a result of this collaboration, three canteens (two in the Penza Region and one in the Altai Territory) got a modern makeover, with schoolchildren now having an opportunity to eat in comfortable facilities and develop healthy eating habits.
Crystal Cherkizovo played volleyball game with kids from UNITY foundation
25 may 2023
Crystal Cherkizovo played volleyball game with kids from UNITY foundation
Crystal Cherkizovo, a volleyball club whose main sponsor is Cherkizovo Group, met children with cancer supported by the UNITY charity foundation to talk about the history of volleyball and play an exhibition game.
Cherkizovo Group unveils prospects for halal product exports
23 may 2023
Cherkizovo Group unveils prospects for halal product exports
Cherkizovo Group, Russia's largest meat producer, took part in the business program of the Russia – Islamic World: KazanForum, the key platform for economic cooperation between Russia and Muslim countries. The Company shared its vision of opportunities to expand halal product exports to the CIS and beyond.
