News
18.01.2010
Kernel Group acquires Allseeds Group.
The Kyiv-based Kernel Group, one of the largest operators on the Ukrainian market of vegetable oil, has acquired another domestic large producer and exporter of sunflower oil - the Kyiv-based Allseeds Group. Ukrainian News learned this from a well-informed source.
The press service of the Ukrainian Agrarian Confederation also told Ukrainian News that the deal has been concluded, according to the information circulating on the market. Kernel group confirmed in a statement that an agreement that gives it the option of acquiring a controlling stake in Allseeds Group was reached on Jan 13. Kernel Group will pay USD 42mn for this controlling stake if it obtains permission from the Antimonopoly Committee to acquire the stake and if it successfully completes the comprehensive inspection of Allseeds Group's operations that is presently taking place. Kernel Group consists of the Poltava oil-extracting factory, the Prykolotne oil extraction plant (Kharkiv region), the Vovchansk oil extraction plant (Kharkiv region), grain elevators with a combined storage capacity of over up to 1.74mn tons, and agricultural enterprises. Kernel Group finished the 2008/2009 marketing year with a net profit of USD 131.9mn. Kernel Group is engaged in production of sunflower oil, distribution of bottled oil in Ukraine, export of oil and grain, provision of services involving storage of grain and oil-bearing crops in grain elevators, and agricultural production. Kernel Group's enterprises produce goods under the trademarks Schedryi Dar, Stozhar, Liubonka, and Chumak.
