AgroGeneration (Paris), which raises grain and oil-bearing crops in Ukraine, has signed preliminary agreements to acquire several Ukrainian farms, according to a statement by the company on the stock exchange.
Relevant deals could be completed in the coming months after a final audit of the farms is finished.
AgroGeneration said that each of these farms controls agricultural land of 15-30% of the areas cultivated by the company, which in 2010 grew by 20%, to 48,000 hectares.
AgroGeneration also significantly improved its EBITDA in 2010, but it did not specify the figures.
According to the statement, the company in 2010 increased production by 3.7 times, to EUR 20 million. Its sale prices last year rose by 70% and amounted to EUR 167 per tonne.
AgroGeneration was established in 2007. Before buying Vinal (whose three farms cultivated over 25,000 hectares of land in western Ukraine) controlled three large farms in Ukraine (in Hlukhiv, Chudniv, and Zbarazh), with their total land bank exceeding 20,000 hectares.
