Charoen Pokphand to buy into Russia Baltic Pork Invest

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Just-Food | 29 July 2013
Russia Baltic Pork Invest ASA is a company registered in Norway that owns an 8,000 ha grain farm and a large scale pig farm (above) in the Kaliningrad region of Russia. The Thai food manufacturer Charoen Pokphand Foods acquired a majority stake in the company in 2013.

Charoen Pokphand to buy into Russia Baltic Pork Invest

By Michelle Russell

Thai food manufacturer Charoen Pokphand Foods (CPF) is to acquire a majority stake in Russian pork producer Russia Baltic Pork Invest.

CPF will purchase 822,191 shares from Capman Russian Fund for EUR72.2m (US$95.9m). The deal means CPF will hold an equity interest in Russian Baltic of not more than 78%, the firm said in a stock exchange filing.

Russia Baltic is a grain and pork producer in the Kaliningrad region of Russia. The company, which is targeting to expand its operations, reported net profit of THB343.45m (US$11m) in 2012 and sales of THB1.39bn.

CPF already has a presence in Russia with its subsidiary Charoen Pokphand Foods Overseas, which manufactures animal feed and mixed fodders.

The company said it believes the investment would help "improve pig production efficiency further and enhance growth potential in the swine business in Russia which has a large under-supply [in the] market.

Once complete, Russian Baltic and its subsidiaries will become divisions of CPF.

Earlier this year, CPF agreed a deal to buy China-based meat and ready-to-eat foods producer Chia Tai Food Enterprise in a deal worth THB483m (US$15.8m).
Original source: Just-Food
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