Yablunevy Dar juice producer takes aim at IPO in Warsaw
2011-03-31 17:07:16
Ukraine's largest producer of concentrated juice, the company Yablunevy Dar is aimed at the IPO in Warsaw, according to InvestGazeta.
"This will be Warsaw Stock Exchange, and the stake offered for sale will not exceed 20%," the owner of the company, Taras Barschovsky, said. The final date of listing has not been defined yet. According to Barschovsky, it will not happen before 2013. "First it is necessary to carry out some of our plans for investment in assets," he explained.
Because of the shortage of raw materials in Ukraine, Barschovsky is forced to build and buy plants where there are enough resources. This explains the active work of his company in Poland. Availability of production capacities in the EU also contributes to increasing its presence in the European market of concentrated juice.
"We hold a 60% share of juice concentrate production market in Ukraine. The only our competitors are the Austrians and Germans, who have a factory in Vinnytsia region," the entrepreneur emphasizes.
Yablunevy Dar plans to build and launch in Poland's Hannopil in 2013 a new venture for the production of concentrate and frozen foods. The amount of the investment is approximately EUR 12 million. Perhaps, the IPO will be the source of these funds. However, Barschovsky says, he is going to invest in Ukraine the money to be raised on the stock exchange.
The company has ambitious plans to promote business in the European Union. On February 22, Barschovsky struck the deal on acquisition of a plant near the Polish city of Sandomierz. Full utilization of the capacity for processing apples at the enterprise, 150 thousand tons per year, theoretically allows Yablunevy Dar to double production rates.
Today the company Yablunevy Dar is among the ten largest producers of juice concentrate in Europe. Its concentrate is used to make more than half of domestic packaged juices, as well as a significant part of Russian-made drinks.