Provimi strengthens position the Russian feed market

RUSSIA - Provimi, (listed on Euromext in Paris) one of the world leaders in the animal nutrition business, has announced that it acquired 80% of the Russian premix company ZAO Rybflotprom from the Sodrugestvo Group.

Provimi Russia and Rybflotprom are, it is claimed, the two leading companies in premixes and concentrates in Russia. With this acquisition the Provimi Group claim to have become the undisputed number one premix and concentrates producer in the country.

Provimi CEO Wim Troost said: “This acquisition means a significant strengthening of our already leading position in the important Russian market. After the acquisition in October of Pet Hungaria, the number one private label pet food producer in Hungary, this is Provimi’s second major acquisition in a short time.

Both acquisitions are fully in line with our strategy of expanding in high margin categories and in the fast growing markets such as Central and Eastern Europe.” Rybflotprom is located in Kaliningrad harbour, a strategic location for the production and distribution of premixes and concentrates into Russia. The company employs 130 people. In 2004, it had an annual turnover of EUR 30 million.

Russia is one of the top ten world markets for feed and one of the faster growing markets worldwide, both for premixes and concentrates as well as complete feed.

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Source: fishupdate.com

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