Kernel signs agreement to acquire agricultural holding Enselco for $348 million
2.04.2026 - 10:37
Kernel Holding S.A. consolidates strategic agricultural assets by signing an agreement to acquire 100% of Enselco Holding Limited.
The transaction value is $348 million, which is 5% lower than the assessment of an independent international expert, the Kernel press service reported.
The process of independent valuation of the asset value and agreement on the terms of the transaction took place under the direct supervision and approval of independent members of the Kernel Board of Directors.
“The transaction is a consistent step in the strategy of strengthening vertical integration and combines capabilities into a single corporate structure,” the company noted.
Over the past year, Enselco has expanded its scale and structure: it has increased its logistics and elevator capacities, and its land bank has increased by 42% through M&A: from 134 thousand hectares in 2022 to 190 thousand hectares in 2026.
Kernel CEO Yevgen Osypov noted that the acquisition of Enselco is Kernel’s response to the new reality of the agricultural market.
“Namely, a stable export corridor through the Black Sea, which gives us confidence to build up agricultural assets right now. Land has become a more scarce resource, and companies that combine agricultural production, technology, processing and logistics have stronger market positions. Enselco and Kernel agro-enterprises have a long history of close and effective operational cooperation. Consolidating these assets into a single structure is a logical strategic decision that allows us to obtain maximum scale in agricultural production management,” emphasized Yevgeny Osypov.
Recall that at the end of January, shareholders of one of the largest agricultural holdings in Ukraine, Agro-Region, completed a deal to sell 100% of the company to the Enselco group, owned by Andriy Verevskyi, the owner of Kernel. The deal became one of the largest M&A transactions in the agricultural sector of Ukraine since February 2022. The exclusive financial advisor to the sellers was the investment company Dragon Capital, and legal support was provided by OMP.
