Russia’s biggest meat producer Cherkizovo said on Wednesday it would buy fellow poultry farmer Mosselprom for an undisclosed sum, strengthening its grip on the Russian food sector.
Cherkizovo, which earlier this week posted a 21 percent rise in 2010 profit to $144.4 million, said in a statement Mosselprom had 2 percent of Russia’s poultry market, compared to Cherkizovo’s 7 percent.