World meat industry news

Russia's largest vertically integrated meat producer Cherkizovo Group has closed the deal to acquire the poultry producer Altaisky Broiler from Prioskolie agroholding for an estimated RUB 4.6 billion ($69 million).

"Cherkizovo continues the process of consolidation of the poultry industry. This acquisition is fully consistent with the Group's development strategy. Siberia is an important region for us, our plans include active expansion and access to the largest cities of the Siberian District," said Igor Babayev, the founder of the Cherkizovo Group.

Over the next two to three years, Cherkizovo intends to increase the production capacity of the poultry factory in the Altai Territory from almost 60,000 to 100,000 tons of poultry meat per year. In addition, in the future, Cherkizovo does not exclude access to other traditional markets for the group.

Altaisky Broiler consists of a hatchery, a feed mill, four feedlots, a slaughterhouse and a poultry processing plant.

The Group intends to develop its own distribution system in the Siberian Federal District. Cherkizovo will continue to produce products under the Altaisky Broiler brand, and in the future may launch production of other poultry meat brands. It is also planned to increase the supply of meat processing products to Siberia.