Sibagro to acquire large-scale pork producer
04 March 2021
Sibagro, a Russia-based agroholding, plans to acquire a large-scale Russian pork producer Promagro in the Belgorod region. Promagro operates 42,000 hectares of farmland, three pig-breeding farms producing 64,500 tonnes of pork in live weight annually, a meat processing plant with annual output of up to 113,000 tonnes of finished products, and a feed mill with annual production capacity of 200,000 tonnes of feedstuffs.
Market experts assume that this acquisition might allow Sibagro to raise its annual pork production 27% to 300,000 tonnes and enter the list of Russia’s top five pork producers. The volume of the transaction might reportedly reach $129 million. The companies have not officially disclosed the details of the deal.