Raw milk producer Ekoniva acquired Okaagro holding

Ekoniva
Ekoniva

“Ekoniva” of Stefan Duerr bought the holding company “Okaagro” Nikita Gordeev, son of the former head of the Ministry of Agriculture and the current presidential envoy to the Central Federal district Alexey Gordeev. Another contender for the asset was the largest sugar producer in the country, “Prodimeks”.

“Okaagro”, according to its own data, cultivates 45 thousand hectares of land in the Ryazan region and ranks second in the production of grain in the region. The company also operates dairy farms and 4.5 million dairy cows and an elevator with capacity of 50 thousand tons of storage. According to one of participants of the market, the cost of the asset can be 1-1. 5 bn rubles excluding debt.

Ekoniva is Russia’s largest producer of raw milk, operates farms with 27.4 thousand milk cows. According to the parent company Ekosem-Agrar GmbH, in 2016 the holding produced 220 thousand tons of milk. Ekoniva revenue for the same year reached € 118.7 million, EBITDA of €50 million.

Ekoniva was not the only contender for the purchase of “Okaagro”: December 21, the Federal Antimonopoly service received a petition of JSC “United sugar company” (head structure of Igor Khudokormovholding “Prodimeks”) to acquire 100% of OOO “Oka milk”. It belongs to “Okaagro” and manages all holding units.

Executive Director of the National Union of Milk producers (“Soyuzmoloko”) Artem Belov suggests that the reason for the failure of the transaction with “Prodimeks” could be the price factor. “Okaagro” is an attractive asset and the first phase of sale few several players were interested, but the dairy business is not a priority for “Prodimeks”, and the company probably waw unable to offer the seller the best terms at the final stage of negotiations,” he says. “Aquagro” is of particular interest to Ekoniva because of the location in the priority for the company Central Federal district, adds Belov.

Stefan Duerr said earlier “Okaagro” Ekoniva plans to build four dairy units of up to 3 thousand heads of dairy cattle each. The volume of investments into the project was not disclosed. “Soyuzmoloko” estimated the cost of construction of such complexes at 9-12 billion rubles.

Today, EkoNiva is one of the most active consolidators in the Russian dairy market. In March 2017, it became known that the holding company buys LLC “AgroFarm” from the owner of group of companies “Avilon” Alexander Varshavsky, which was building two dairy farm for 5 thousand heads of livestock and dairy in Kaluga region . In October 2017, Ekoniva has acquired at auction  99.9% of OAO “Mosmedynagroprom” for 1.55 billion roubles in the Kaluga region created on the initiative of the former mayor of Moscow Yuri Luzhkov in 2000. Assets of the company include 12 hectares of land, about 7.5 thousand milk cows and the plant “School food” with capacity of 110 tons of finished products per day. At the end of 2017, Ekoniva has announced the release of the production of 1 thousand tons of milk per day, in two years the figure is planned to be doubled.

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