North West | Farming, agriculture | Industry, manufacturing

Cherkizovo buys control in National Product for $4m

23 Sep '10
Vertically integrated meat group Cherkizovo has announced a purchase of control share in meat-processing factory Otechestvenny Product (National Product), located in the town of Pravdinsk, Kaliningrad region.

The deal price has reportedly come in at $4m, with $2.4m paid in monetary funds, and $1.6m is to be repaid for the purchased companys debt.

Under plans, Cherkizovo is to invest another $2.5m in the plant modernization to make it specialize in production of meat delicacies, including smoked meat, ham, sausages.
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