Agribusiness Partners International finalises sale of Chicken Kingdom
Agribusiness Partners International, L.P. (API) has announced the sale of Chicken Kingdom to the Cherkizovo Group, one of Russia’s leading integrated and diversified meat producers.
The purchase price of approximately $143 million was paid. In addition, existing long-term debt was assumed.
President of API, Bob Peyton: “Over the years, API has built Chicken Kingdom into a well known brand and a respected company. We are pleased with the sale of the company to Cherkizovo as their commitment to quality is evident in their past success.â€
Chicken Kingdom is located in Lipetsk and Bryansk, Russia. The Company is one of the largest poultry processors in Russia producing and packaging more than 1.2 million birds per week. The Company is one of the largest employers in the three Regions of Russia in which it operates with over 2,800 employees. Chicken Kingdom reported 2006 sales revenues of $109 million.
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