“Eco-Culture” Holding acquires the second largest greenhouse complex of the Leningrad region “Year Round”

Stavropol holding “Eco-Culture” acquires a greenhouse complex “Year Round” in Pikalevo (Boksitogorskiy district in the Leningrad region). That was reported by several market sources and regional authorities. “Eco-culture “representatives confirm that they are in the process of negotiations. Several sources from “Year Round” specify that the deal is closed.
According to the Head of analytical department of the investment company “LMS” Dmitriy Kumanovskiy, “Year Round” value of assets can be equalled 5.7 bln. RUB. “Pay-back period of greenhouse projects is nearly 7 years, that is why the business on sale will be commercially successful, it has its own market share and distribution”, – as explained by the analyst.
Two other market participants say that the deal sum is unlikely to more than 2.5 bln. RUB.
The greenhouse complex “Year Round” was commissioned in 2014; the first stage capacity is 6.2k tonnes of vegetables – cucumbers, tomatoes, lettuce. The investment volume is more than 2 bln. RUB. In 2016, the company intended to build the second stage of greenhouses on the territory of 5 ha, 1.9 bln. RUB worth. Total turnover of the greenhouse company and its trading house amounts to approx. 1 bln. RUB. The products are distributed under the trademark “S chistogo lista”.
The reason for sale is not specified. “Big structures are more successful, they have more organisational and interest mechanisms, small businesses are more defenceless”, – says one of the sources related to the deal.
Previously, “New gazette” revealed, that the “Year Round” complex was owned by Maksim Khramtsov’s family (Aleksey Patrushev’s business-partner, nephew of Security Council Secretary Nikolay Patrushev). By the way, Rosselkhozbank, headed by the son of Security Council’s Head, provided a loan amounted to 1.5 bln. RUB for project implementation. That time, the company’s representatives vehemently denied the fact, that Aleksey Patrushev was involved in the deal.
“Eco-culture” announced the intention to build greenhouses in the Leningrad region in autumn, 2016. To implement the project, a 60ha site was selected in Pikalevo. It was expected, that the project, 20 bln. RUB worth, will be implemented in 3 stages by the end of 2020. Contracted capacity of the future project was estimated at approx. 45k tonnes of tomatoes a year. According to the informant from the Administration of the Leningrad region, the company did not reject the implementation of its own project because of purchasing “Year Round”. Moreover, they have plans to continue the construction of the second stage that was stated previously. “It is obvious, that “Eco-culture” decided to enter the regional market by acquiring an on-going company, and only then get involved in the implementation of own plans.” – stated the informer.
Agriholding “Eco-Culture” is under the control of Stavropol businessman Aleksandr Rudakov and Ex-Duma-Member of the Tula region Andrey Petrenko. The company owns two greenhouse facilities with the total area of 52 ha in Stavropolye. It also has distribution centres in the Stavropol territory and in Moscow. It is planned to expand the territory of greenhouse complex for up to 467 ha by 2020. Production volume will amount to 386.19k tonnes. The company launched the construction of greenhouses in the Tula, Voronezh, Moscow regions and others.

Source: Delovoy Peterburg