Russian meat producer OAO Cherkizovo Group Wednesday said it has bought 100% of poultry producer OAO Chicken KingdomRussian meat producer OAO Cherkizovo Group Wednesday said it has bought 100% of poultry producer OAO Chicken Kingdom.
Chicken Kingdom's 2006 revenue under U.S. Generally Accepted Accounting Principles was $109 million and its earnings before interest, tax, depreciation and amortization were $23 million, said Cherkizovo.
Cherkizovo said it agreed a purchase price of $143 million for Chicken Kingdom.
Cherkizovo Group Buys 100% Of Chicken Kingdom.Cherizovo said it funded the acquisition with proceeds from its May 2006 initial public offering and by raising additional debt.
Chicken Kingdom is Russia's fourth-largest Russian poultry producer and produced 70,000 tons of dressed weight in 2006, said Cherkizovo
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