The agricultural holding Steppe (a part of Sistema JSFC) has bought 100% of the holding company of Pir group, which is engaged in distribution and production of packaged cheese. This was reported by the newspaper "Vedomosti" with reference to the head of the holding Andrey Neduzhko.

The parties did not disclose the cost of the deal. However, according to the newspaper, the sum was about 5 billion rubles.

The transaction, as Neduzhko notes, is in line with the company's strategy to enter into the deep processing segments and will also allow "Stepi" to create a single chain from production of raw milk to distribution of finished goods.

Peer Group buys cheese from producers, then packages it and sells it in stores. Additionally, the company has its own production facility, which makes cheese under the Jalo Kerma, Cheese Gallery, Meadow Fresh and Valegda brands. Last year, the group sold 23 thousand tons of packaged cheese. Its revenues are estimated at nearly 16 billion rubles.

The purchase of "Peer" was the second deal of "Step" in July. Earlier Steppe Investments bought Mishkino Confectionery in Rostov for about 1.5 billion rubles.

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Author: Ksenia Gustova