Kernel Holding

Kernel Holding S.A. (Ukrainian: Кернел) is the largest producer of sunflower oil in Ukraine.[1] It operates under the brands Shchedry Dar, Stozhar and Chumak Zolota, exports oils and grain worldwide, and provides storage for grains and seeds.[2] It produces 8% of sunflower oil in the world and its products are supplied to sixty countries.[3] It operates 28 grain elevators in Ukraine with a total storage capacity of 2.34 million tons of grain, the highest among private-sector companies in the country.[4]

Kernel Holding S.A.
Native name
Кернел
TypePublic
WSE: KER
ISINLU0327357389
IndustryAgriculture
Founded1994
FounderAndriy Verevskyi
HeadquartersKyiv, Ukraine
Websitekernel.ua

History

It was established in 1994 by Andriy Verevskyi.[5]

Kernel launched an initial public offering on the Warsaw Stock Exchange in 2007,[2] becoming the second Ukrainian company to hold an IPO in Warsaw.[6] In 2020, Forbes Ukraine ranked Kernel as the third-largest private-sector company in Ukraine by revenue.[7] Forbes Ukraine ranked Kernel the fourth-best employer in its 2021 list of the fifty best employers in the country.[8]

The company is actively investing in the development of small and medium agribusiness in Ukraine. Since 2019, the Open Agribusiness affiliate program has been operating. Kernel provides small and medium-sized partners with technology and agronomic support, access to credit, currency and forward programs. The company also helps partners to protect property from raiders, provides funding for the construction of elevators, granaries, land purchase. The project allows farmers to increase land productivity, increase yields and profits.[9][10][11]

In 2023 Kernel Holding announced the delisting of the company from Warsaw Stock Exchange. Andrii Verevskyi announced an offer to buy out all the shareholders in Kernel Holding. The exit is primarily due to Russia’s invasion of Ukraine, which devastated Kernel’s operations and sent its market value tumbling more than 60%.[12]

The delisting was described as a cynical move to push out minority shareholders which could undermine foreign funding for the postwar reconstruction of Ukraine. [13]

References
  1. "Ukraine's Kernel flags 'uninspiring' 2021 outlook, despite buoyant Q1". AgriCensus. 2020-11-27. Retrieved 2022-03-01.
  2. "Менеджер "Кернела" викупив акції компанії на 1,6 мільйона". Економічна правда (in Ukrainian). Retrieved 2022-03-01.
  3. "Кернел Груп - досьє, засновники, історія, оборот". The Page (in Ukrainian). Retrieved 2022-03-03.
  4. "Кернел". elevatorist.com (in Ukrainian). 2016-06-29. Retrieved 2022-03-03.
  5. "Harvest of Cash: Big agroholdings use political clout to reap sweet subsidies from Ukraine's taxpayers - Nov. 16, 2018". 16 November 2018.
  6. "Чому Польща змогла побудувати фондовий ринок, а Україна – ні? Пояснює екс-директор із розвитку Варшавської біржі — Forbes.ua". forbes.ua (in Ukrainian). 2021-03-21. Retrieved 2022-03-01.
  7. "100 найбільших приватних компаній України 2020 — Forbes.ua". forbes.ua (in Ukrainian). 2020-10-01. Retrieved 2022-03-01.
  8. "50 найкращих роботодавців — Forbes.ua". forbes.ua (in Ukrainian). 2021-01-04. Retrieved 2022-03-03.
  9. "Трансформация Open Agribusiness, или Как Kernel стал опорой аграриев — Latifundist.com". 2021-08-17. Archived from the original on 17 August 2021. Retrieved 2022-06-07.
  10. "Для Kernel покупка 10%доли - это степень доверия, а не инструмент поглощения - руководитель проекта Open Agribusiness агрохолдинга". 2021-08-17. Archived from the original on 17 August 2021. Retrieved 2022-06-07.
  11. "Open Agribusiness: ЯК УКРАЇНСЬКІ АГРАРІЇ ОБ'ЄДНУЮТЬСЯ З KERNEL". 2021-08-17. Archived from the original on 17 August 2021. Retrieved 2022-06-07.
  12. "Ukrainian Firm's Exit Marks Rude Awakening for Warsaw Bourse". bloomberg.com. 2023-03-09. Retrieved 2023-07-12.
  13. "Polish regulator set to clear Ukrainian group's delisting from Warsaw exchange". ft.com. 2023-06-14. Retrieved 2023-08-30.
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