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Damate bought grain elevator from Rusagro

24 May 2019

Damate Group, the largest turkey producer in Russia, acquired the Kolyshleysky grain elevator from Rusagro Group. The total amount of transaction is RUB 480 million ($ 7.4 million).

The Kolyshleysky grain elevator is located in the Penza region of Russia, close to Damate’s turkey production facilities. The one-time storage capacity of the elevator is 88,000 tonnes. With this acquisition, Damate extended its total storage capacity to 210,000 tonnes, expecting to mitigate exposure to price risks on the grain market. Damate plans to increase turkey production to 155,000 tonnes by 2020.

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