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Ukrainian fruit concentrate maker expands capacity in Poland


2011-03-11



TB Fruit Group, Europe’s third-biggest maker of fruit juice concentrate, will invest €18m in expanding its production facilities in Poland over 2011-2013, Puls Biznesu reported.

The Ukrainian firm paid PLN 26m (approx. €6.5m) for Expol, a Polish maker of concentrates and frozen foodstuffs based in Dwikozy (Swietokrzyskie voivodship). This year and next TB Fruit aims to inject over €6m into Expol to more than double its capacity of concentrates. And in 2013 it will spend €12m on a new factory in Annopol (Lubelskie voivodship), founder and CEO Taras Barshchovskyy told the newspaper.

Poland plays a key role in TB Fruit’s expansion strategy, due to the country’s position as a major producer of soft fruit (a shortage of raw materials in Ukraine was the main reason for locating production in Poland). In 2013 or 2014 the group plans to list its shares on the Warsaw Stock Exchange.

At present TB Fruit’s main markets, each accounting for roughly 30% of output, are Russia, Ukraine and the EU. In 2010 the company made a net profit of €12m on sales of €36m. Thanks to the Expol acquisition, in 2011 sales are forecast to hit €60m.



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