Russian agricultural group Agros has acquired pasta manufacturer Extra-M in what the company has described as a multi-million dollar deal. The move follows Agros' recent purchase of a major pasta factory in St Petersburg. The group now controls over a fifth of the country's pasta market.
The takeover is strategically important for Agros. Extra-M accounts for about half of the Moscow pellet market and a significant portion of the national market. Last year, the business sold over 70,000 metric tons of pasta and enjoyed a turnover of €29 million.
Agros also controls 3 per cent of the national grain market and has the country's second-largest granary capacity. Less than 5 per cent of its output is exported.