July 16, 2008


Agrika plans to acquire poultry company

Russian food processing company Agrika Foods hopes to acquire nearly full control of poultry producer Stavropolskiy Broiler for about US$126 million.


In particular, Agrika plans to acquire 95 percent of Broiler Kompleksnye Investitsii from Venus Projects S.A., which is the beneficiary owner of agricultural holding Agros. Stavropolskiy Broiler is a part of Agros, with the former fully owned by Investitsii.


Stavropolskiy Broiler's poultry production exceeded 40,000 tonnes in 2007 and it is one of the largest poultry producers in Russia.


Agrika Foods has processing operations in the Tver and Chuvash Republic regions, with its 2007 total revenue reaching RUB 11.9 billion (US$514 million).

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