News

07 July 2017

Kernel’s farmland bank exceeds 600,000 ha

With the acquisition of Ukrainian Agrarian Investments (UAI) and Agro Invest Ukraine, Kernel completes the farmland bank expansion strategy announced last year. In June the company completed the acquisition of UAI with more than 190,000 hectares of leasehold farmland and approximately 200,000 tons of grain storage capacity under management, and in July Kernel acquired Agro Invest Ukraine, which operates more than 170,000 tons of grain storage capacity and over 27,500 hectares of leasehold farmland.

 

“Acquisition of those assets completes our land bank expansion strategy”, - commented Evgeniy Osipov, Director of Agribusiness in Kernel. “UAI manages onе of the largest prime quality farmland banks in Ukraine located in the proximity to Kernel’s existing operations. With respect to the acquisition of Agro Invest Ukraine our main target was world-class grain storage infrastructure which complemented the recent expansion of our farmland bank in the region. We added over 170,000 tons of modern grain silos, saving 2 years to construct the similar infrastructure from scratch. Today, we focus on the integration of acquired assets to uplift the operational efficiency and productivity levels to Kernel’s high standard” – added Osipov.

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