Rusagro has closed a deal to consolidate 100% of shares and control over GC Agro-Belogorye LLC. This is stated in the company's message.
Agro-Belogorye Group of Companies includes 20 pig breeding complexes, three feed mills, a meat processing plant and a land bank. The company's assets are located in the Belgorod region.
The consolidation of Agro-Belogorye Group will allow Rusagro to become the No. 2 pork producer in the Russian Federation and realize large-scale synergistic effects in the agricultural and meat business areas of the group.
Recall that Rusagro Group LLC (part of the Rusagro Group) received Vladimir Zotov, one of the founders of Agro-Belogorye Group, owns 25% of the holding.
Earlier, the Arbitration Court of the Belgorod region ordered transfer 25% of shares to the main owner of the Belgorod agroholding Agro-Belogorye in favor of Rusagro for 2.5 thousand rubles.
Rusagro Group of Companies is a vertically integrated agricultural holding in Russia. The Group is involved in sugar production, fat and oil business, pig farming and crop production.
Rusagro's net profit for the first 9 months of 2024 fell by 50% to 19.398 billion rubles ($215 million) compared to a year earlier. Revenue increased by 21% to RUB 215.26 billion ($2.387 billion). Adjusted EBITDA decreased by 20% to RUB 24.4 billion ($271 million).
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