Cherkizovo redeemed the debts of Belaya Ptica
07 January 2019
Cherkizovo Group, the largest vertically integrated meat producer in Russia, acquired the claimholder rights of a broiler meat producer Belaya Ptica from Rosselkhozbank. The value of the transaction amounted to RUB 6.5 billion ($93.7 million).
In the Q1 2019, Cherkizovo plans to invest RUB 500 million ($7.2 million) in one of the main subsidiaries of Belaya Ptica – its poultry plant in the Kursk region of Russia – and thus resume its suspended operation. Belaya Ptica-Kursk controlled 5% of the Russia’s market for broiler meat in 2017 with the annual output of 120,000 tonnes. The company operates a hatchery, seven growing sites, as well as a poultry processing plant.
In 2017, Cherkizovo Group reported a total production volume of 615,000 tonnes of broiler meat, which accounted for 11% of the total broiler meat production countrywide. Cherkizovo intends to expand its production capacity to 1 million tonnes of meat by the end of 2018.