Kernel's land bank after acquisition of UAI, AgroInvest Ukraine exceeds 600,000 ha
The land bank of Kernel agricultural holding after acquisition of Ukrainian Agrarian Investment (UAI) and Agro Invest Ukraine has reached over 600,000 ha of leasehold farmland.
According to a company report on the website of the Warsaw Stock Exchange (WSE), Kernel completes the farmland bank expansion strategy.
In June 2017, Kernel finalized a deal to acquire UAI with a land bank of over 190,000 ha of leasehold farmland and around 200,000 tonnes of grain storage capacity. In July, Kernel bought Agro Invest Ukraine with a land bank of over 27,500 ha of leasehold farmland and near 170,000 tonnes of grain storage capacity.
"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," Agribusiness Director at Kernel Yevhen Osypov said.
He said that Kernel focuses on the integration of acquired assets to uplift the operational efficiency and productivity levels to Kernel’s high standard.