AFG National and Volga Group may sell a joint horticultural business. The Federal Antimonopoly Service has approved the application of LLC "Service-plus" for the acquisition of 100% of the horticultural enterprise "Southern Lands" of the agroholding "AFG National" and the Volga Group structure of Gennady Timchenko. AFG National owns 65% of the Southern Lands, the rest is owned by Volga Group Agro. The Kommersant newspaper writes about this.
Service-Plus is owned by Razeta and Bekhan Khamchiev, who are associated with one of the country's largest apple producers, Sad-Giant JSC. Bekhan Khamchiev is a member of the company's board of directors, and Razeta Khamchieva is listed as the owner of 74.95% of shares in the 2020 financial statements. A meeting of shareholders of the company "Garden Giant" is scheduled for September 8, where it is planned to consider the issue of concluding a contract with the Rosselkhoznadzor for the assignment of rights of claim for the obligations of the "Southern Lands". According to a Kommersant source, the company is considering various scenarios regarding agricultural assets.
For the summer of 2021, Southern Lands managed more than 760 hectares of high-intensity gardens in the Krasnodar Territory, as well as a storage facility with a capacity of 25 thousand tons. Gross harvest last year exceeded 26 thousand. t of apples. By 2025, it was planned to expand the area of gardens to 2.5 thousand hectares and reach a yield of 45 thousand. t per year. The company's revenue in 2021 grew by 37.3% to 1.35 billion rubles, net profit was 97.53 million rubles.
