On July 1, the shareholders of Chumak PrJSC, a leading producer of ketchup and canned vegetables, pasta and oil, decided to change its form of ownership to Chumak Ukraine LLC (limited liability company) to minimize the company’s organizational costs.
The National Securities and Stock Market Commission (NSSMC) published the relevant information on the termination of the PJSC by reorganizing it into an LLC on Wednesday.
“The decision was made to simplify the management system and optimize costs,” the information system said in a statement.
Following the reorganization, the company’s property, rights, cash, liabilities and other obligations will be fully transferred to Chumak Ukraine LLC. At the same time, the shares of Chumak PrJSC will be converted into shares in the authorized capital of Chumak Ukraine LLC, while maintaining the ratio of the number of shares held by the shareholder in the authorized capital. Therefore, one share of PrJSC Chumak with a nominal value of UAH 10.00 will be equal to the value of a share of UAH 10.00 in LLC Chumak Ukraine. The authorized capital will remain unchanged at UAH 699.53 million.
Chumak was founded in 1996 in Kakhovka, Kherson region. The company specializes in the production of ketchups, sauces, mayonnaise, tomato paste, juices, oil, canned vegetables and pasta.
In addition to post-Soviet countries, the company’s products are exported to the United States, Canada, Scandinavia, Germany, the Baltic States, Israel, West Africa, Korea, Bangladesh, and others.
After the occupation of Kakhovka, Chumak resumed production at competitors’ facilities throughout Ukraine and even abroad. Some tomato pastes, sauces, and mayonnaise are produced in Lutsk, Kyiv, and Zaporizhzhia, pasta in Turkey, and oil at one of the special economic zones owned by the Kernel agricultural holding. In 2023, the company’s administration was looking for land to grow tomatoes in Odesa region and intended to start producing ketchup at one of the local plants.
According to the Opendatabot service, in 2024, Chumak increased its revenue by 45.1% to UAH 1.364 billion, net profit by 16.6% to UAH 62.09 million, assets by 8.2% to UAH 705.04 million, reduced debt by 0.7% to UAH 902.82 million, and increased the number of employees by 15 people to 133.
The company’s beneficiaries are currently Karthikesan son of Vairavan Vasudevan son of Vairavan (Singapore) and Panda Dhruba Charan (India) through Crestone Investments Limited.
