You're reading: Egg magnate Bakhmatyuk acquires two leading farm companies: Rise, Dakor

Analysts said the western Ukrainian is now the largest agricultural landholder in Ukraine.

Oleh Bakhmatyuk, the owner of Ukraine’s top egg producer Avangard, has acquired two of Ukraine’s top agriculture groups – Rise and Dakor.

Analysts said the acquisitions make Bakhmatyuk’s Ukrlandfarming group the largest agricultural landholder in Ukraine and a major player on the sugar market.

Details of the deal have not been made public, but analysts said the companies were struggling with large debts and that Bakhmatyuk could share the stakes in the companies with other major business players.

Bakhmatyuk was the 16th richest Ukrainian with $700 million according to the latest Kyiv Post rich list, published at the end of last year.

Agriculture experts said the deal was part of a trend of smaller companies being acquired by larger players.

Dakor and Rise are, respectively, the sixth- and seventh-largest sugar producers in the country.