Chernihiv-based Proviant Group of Companies, headed and owned by Valentyn Zaporoshchuk (Ichnia and MamaMilla brands), purchased the bankrupt Gadyachsyr cheese factory (Poltava region) at a second auction on Prozoro.Sale on February 17.
According to the trading platform, the price of the cheese plant was UAH 99.2 million at the first auction in September 2024. At the second auction, which was held on the principle of a Dutch auction (downward bidding – IF-U), Gadchsyr was sold for UAH 44.03 million, which is 40% cheaper than the starting price. Full payment is expected within 10 business days, i.e. by March 4, 2025.
The new owner will receive a complex of industrial buildings and auxiliary facilities of the Gadyachsyr plant, two land plots of 4 hectares and 0.7 hectares, as well as almost 900 inventory items of various equipment.
“Gadyachsyr was declared bankrupt in 2023. The company was part of Ruslan Badayev’s Almira holding. The state register lists Oleg Balyuk as the ultimate beneficiary.
As reported, according to the decision of the Shevchenkivskyi District Court of Kyiv of May 14, 2018, published in the Unified State Register of Court Decisions, Ukreximbank officials issued loans to Agroprodeexport and Tekhmolprom secured by illiquid property of the state bank in order to. According to the investigation, the total debt of Agroprodeexport and Tekhmolprom, as well as the company International Seafood Group LLC, on these loans amounted to UAH 2.1 billion.
“Tekhmolprom was founded in 2007. The company’s core business is milk processing, butter and cheese production. Agroprodexport was founded in 2007 and is primarily engaged in wholesale trade of dairy products, eggs, edible oils and fats. RVD-Agro LLC was founded in 2003. The company specializes in growing cereals (except rice), pulses and oilseeds.
The ultimate beneficial owner of Agroprodexport, RVD-Agro LLC and Tekhmolprom LLC is Oleh Balyuk. He is also the ultimate beneficiary of Gadyachsyr, which is listed as a legal entity associated with the three borrowing companies.
Proviant LLC was founded in 2003 in Chernihiv. It specializes in milk processing, butter and cheese production, wholesale of dairy products, eggs, edible oils and fats.
According to Opendatabot, in 2023, the company’s revenue amounted to UAH 74.683 million, net profit – UAH 8.3 million, and debt obligations – UAH 675.95 million. The assets are estimated at UAH 122.32 million.
Zaporoshchuk acquired Proviant LLC in October 2021 from Oleksandr Ivanov.
PJSC Pyriatyn Cheese Factory (Poltava region), one of the largest cheese making enterprises of Ukraine, received a net profit of UAH 96.4 million in 2017, which is 1.6 times more than in 2016. According to a company report in the information disclosure system of the National Securities and Stock Market Commission, its net income last year increased by 1.4 times, to UAH 1.52 billion.
The gross profit of the cheese plant over the year increased by 1.4 times, to UAH 236.3 million, operating profit by 1.3 times, to UAH 126.96 million.
The sales of hard cheese in monetary terms decreased by 4.5%, to UAH 225.2 million, in natural terms by 28%, to 2,300 tonnes. Sales of processed cheese in money terms increased by 9.6%, to UAH 130.92 million, in natural terms decreased by 13.4%, to 2,150 tonnes.
Pyriatyn Cheese Factory is part of Milk Alliance, established in June 2006 as a holding company with a charter capital of UAH 23.5 million and a balance sheet, 99.9% consisting of long-term financial investments.
