Russia

Atria sold its fast-food business in Russia

Mergers & Acquisitions

The deal, worth about €8 million, was signed with a subsidiary of Cherkizovo Group.

Posted on May 19 ,12:31

Atria sold its fast-food business in Russia

Atria has sold its fast-food business Sibylla Rus LLC to Limited Liability Company Agricultural Complex Mikhailovskiy, which is part of the Cherkizovo Group. The sales price is approximately €8 million. The transaction does not include the Sibylla trademark.
The net sales of the fast-food company operating in Russia has been approximately 2% of the Atria Group's total net sales and the business has been profitable. The fast-food business is reported in the Atria Sweden segment.
Atria will record a capital gain of approximately €2 million from the divestment. In addition, a translation loss of approximately €10 million is recorded from the transaction. The translation loss is recognized in EBIT, but it has no effect on the Group's equity nor cash flow, informed the Finnish meat producer in a press release.

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