Industrial Milk closes a USD 5.3 mln acquisition deal
21 June 2011
Industrial Milk Co (WSE: IMC PW) acquired three farms with a total land bank of 7.5 ths ha for USD 5.3 mln, according to the company’s announcement on the Warsaw Stock Exchange. The farms are located in Central and Northern Ukraine close to company’s existing land bank in Poltava and Chernihiv regions. Through this acquisition Industrial Milk expanded its land bank by 20% to 45.5 ths ha and the number of cattle by 33% to 7,500 heads. The acquisition also includes granaries with an aggregate storage capacity of 5 ths mt. Industrial Milk is one of the leading milk producers in Ukraine that also specializes in growing cereals, oilseeds and potatoes.
