Radekhiv-Tsukor is to buy ex-Mriya sugar refineries

5 December 2016

According to Ukrtsukor association information, one of the largest Ukrainian sugar producer Radekhiv-Tsukor is to purchase six sugar mills which belonged to bankrupted Mriya Agroholding.

Reportedly after Mriya bankruptcy sugar refineries (6 mills in Ternopil region under name T-Tsukor group) have been controlled by ex-owners of the holding Guta family, but their assets have been pledged to Prominvestbank. According to Latifundist rating in Y2014 they produced close to 173k tons of sugar, which was 8.5% of total Ukrainian production. In Y2015 only one of six refineries Zbarazhkiy mill operated, the rest have been idle, so that total production decreased to 43k tons of sugar.

Radekhiv-Tsukor belongs to TOP-3 Ukrainian sugar producers with total production of about 190k tons in Y2015 (more than 200k is expected to be produced in current season, two mills are owned by the company in Radekhiv and Chortkiv). The company is owned by German group Pfeifer&Langen, which is one of the largest European sugar producers. With new investment market share of Radekhiv-Tsukor among Ukrainian producers is to increase from estimated 11% in current season up to more than 15% (though it will depend on factual capacities utilization of purchased assets, it is unlikely that Radekhiv will operate all 6 mills).

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