REUTERS
Delta Wilmar is a joint venture between Wilmar International Ltd and Delta Exports Pte Ltd, Singapore.
Ukrainian-based Dragon Capital investment company has announced the sale of its entire stake in Chumak, Ukraine's most recognized branded food producers, to the largest agro-industrial company Delta Wilmar.
"Dragon Capital announced today the sale of its entire stake in Chumak, Ukraine's leading producer of branded food products, to Delta Wilmar – the Ukraine affiliate of Wilmar International Ltd Singapore, one of Asia's leading agribusiness groups," Dragon Capital's press service said in a statement on May 27.
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CEO of Dragon Capital Tomas Fiala said the company had been supporting Chumak over the last decade.
In turn, General Director of Delta Wilmar Yuriy Golianych said, "Chumak is the leading food manufacturer in the country with iconic brand and access to every Ukrainian household. It perfectly fits our Group strategy of further downstream integration into food processing with high added value. We are happy to welcome Chumak team into Delta Wilmar family."
UNIAN memo. Chumak is one of Ukraine's most recognized branded food producers, which was founded by Swedish businessmen Johan Boden and Carl Sturen in 1996. The company produces ketchup, mayonnaise, sauces, canned vegetables, tomato paste, pasta, juices and pickles under the same trademark.
In March 2008, Dragon Capital and East Capital Bering Ukraine Fund announced a joint acquisition of a 70% stake in Chumak.
Wilmar International Limited, founded in 1991 and headquartered in Singapore, is today Asia's leading agribusiness group. Wilmar is ranked amongst the largest listed companies by market capitalization on the Singapore Exchange. Wilmar's business activities include oil palm cultivation, oilseed crushing, edible oils refining, sugar milling and refining, manufacturing of consumer products, specialty fats, oleochemicals, biodiesel and fertilizers as well as flour and rice milling. It has over 500 manufacturing plants and an extensive distribution network covering China, India, Indonesia and some 50 other countries and regions. The Group has a multinational workforce of about 90,000 people. In Ukraine, it is present since 2004 via Delta Wilmar – a joint venture between Wilmar International Ltd and Delta Exports Pte Ltd, Singapore.