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.
The Chumak PJSC intends to build a plant for processing tomatoes into paste in Odessa Region, as the company considers this region to be the most favorable in terms of climatic conditions, the director of the department of agrarian policy, food and land relations of the Odessa OVA, Alla Stoyanova, has said on Facebook.
The official recalled that Ukraine covers its domestic needs in vegetables at the expense of imports. According to Stoyanova, in Odessa region in 2023, the sown area of vegetable crops is 1489 hectares, of which 476.6 hectares are allocated for tomatoes, 307.1 hectares – onions, 95.11 hectares – carrots, 81.87 hectares – cabbage, 22.75 hectares – cucumbers, 434.44 – other vegetable crops.
The Director of the Department also informed that relocation of production facilities of Chumak PJSC to Odessa region will be a significant support for agro-industrial complex of the region and will create almost 5000 additional jobs.
The director of “Evrika” LLC Mikhail Bely suggested “systematic and balanced approach to the issue of product logistics”, which will facilitate the delivery of products to farmers for processing and will help the company “Chumak”.
Farmers present at the meeting expressed their willingness to expand production areas under tomato production.
“Vegetable farming is a high-cost business. It depends on irrigation and acquisition of specialized machinery, because farmers massively complain about the shortage of workers. In addition to investments in mechanization of production, attention should also be paid to storage and processing of products. We have a huge potential – natural, logistical (…), human”, summarized Stoyanova.
Delta Wilmar Ukraine LLC, a member of the group of the transnational agro-industrial corporation Wilmar International, launched in November a shop for bottling sunflower oil under the Chumak trademark, in particular, filling it into PET bottles.
According to the company’s Facebook message, the investment amounted to more than $5.5 million, and 45 jobs were created.
Delta Wilmar plans to export bottled products, which the company will produce at the new workshop, abroad, mainly to the countries of Asia, Africa and Europe.
The company also said that this year a new shop for processing and packaging of margarine and fat products was opened, investments in which amounted to more than $29 million.
Delta Wilmar Ukraine LLC is part of the group of the transnational agro-industrial corporation Wilmar International, which market capitalization today is about $22 billion.
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Delta Wilmar is buying the Chumak food producer from Dragon Capital.
“Chumak is one of the largest food producers in Ukraine. Delta Wilmar is buying the entire company,” Delta Wilmar CEO Yuri Golyanich said in an interview with Interfax-Ukraine.
Details of the transaction will be known early this week.
According to the information on the website of the Antimonopoly Committee of Ukraine, the regulator agreed on the purchase of Flottotrade Limited by Crestone Investments Limited (both from Cyprus).
Crestone Investments owns Chumak subsidiary LLC. The ultimate beneficiary is the head of Dragon Capital Tomas Fiala.
Chumak is the largest producer of food products: canned vegetables, sauces, ketchups, pasta, mayonnaise, desserts. The company also produces products for retail chains and HoReCa under the private label.
