Kernel Holding
{{Short description|Ukrainian sunflower oil producer}}
{{Infobox company
| name = Kernel Holding S.A.
| logo = Kernel-logo-header-01.svg
| native_name = Кернел
| native_name_lang = uk
| type = Public
| traded_as = {{WSE|KER|LU0327357389}}
| ISIN = LU0327357389
| founder = Andriy Verevskyi
| industry = Agriculture
| founded = 1994
| hq_location = Kyiv, Ukraine
| website = {{url|kernel.ua}}
}}
Kernel Holding S.A. ({{Langx|uk|Кернел}}) is the largest producer of sunflower oil in Ukraine.{{Cite web |date=2020-11-27 |title=Ukraine's Kernel flags 'uninspiring' 2021 outlook, despite buoyant Q1 |url=https://www.agricensus.com/Article/Ukraine-s-Kernel-flags-uninspiring-2021-outlook-despite-buoyant-Q1-14516.html |access-date=2022-03-01 |website=AgriCensus}} It operates under the brands Shchedry Dar, Stozhar and Chumak Zolota, exports oils and grain worldwide, and provides storage for grains and seeds.{{Cite web |title=Менеджер "Кернела" викупив акції компанії на 1,6 мільйона |url=https://www.epravda.com.ua/news/2016/01/26/578370/ |access-date=2022-03-01 |website=Економічна правда |language=uk}} It produces 8% of sunflower oil in the world and its products are supplied to sixty countries.{{Cite web |title=Кернел Груп - досьє, засновники, історія, оборот |url=https://thepage.ua/ua/dossier/kernel-group |access-date=2022-03-03 |website=The Page |language=uk}} 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.{{Cite web |date=2016-06-29 |title=Кернел |url=https://elevatorist.com/kompanii/119-kernel-grupp |access-date=2022-03-03 |website=elevatorist.com |language=uk}}
History
It was established in 1994 by Andriy Verevskyi.{{cite web | url=https://www.kyivpost.com/business/big-agroholdings-use-political-clout-to-reap-sweet-subsidies-from-ukraines-taxpayers.html | title=Harvest of Cash: Big agroholdings use political clout to reap sweet subsidies from Ukraine's taxpayers - Nov. 16, 2018 | date=16 November 2018 }}
Kernel launched an initial public offering on the Warsaw Stock Exchange in 2007, becoming the second Ukrainian company to hold an IPO in Warsaw.{{Cite web |date=2021-03-21 |title=Чому Польща змогла побудувати фондовий ринок, а Україна – ні? Пояснює екс-директор із розвитку Варшавської біржі — Forbes.ua |url=https://forbes.ua/money/pochemu-polsha-smogla-postroit-fondovyy-rynok-a-ukraina-net-obyasnyaet-eks-direktor-po-razvitiyu-varshavskoy-birzhi-21032021-916 |access-date=2022-03-01 |website=forbes.ua |language=uk}} In 2020, Forbes Ukraine ranked Kernel as the third-largest private-sector company in Ukraine by revenue.{{Cite web |date=2020-10-01 |title=100 найбільших приватних компаній України 2020 — Forbes.ua |url=https://forbes.ua/ratings/100-naybilshikh-privatnikh-kompaniy-ukraini-02112020-408 |access-date=2022-03-01 |website=forbes.ua |language=uk}} Forbes Ukraine ranked Kernel the fourth-best employer in its 2021 list of the fifty best employers in the country.{{Cite web |date=2021-01-04 |title=50 найкращих роботодавців — Forbes.ua |url=https://forbes.ua/ratings/50-naykrashchikh-robotodavtsiv-04012021-826 |access-date=2022-03-03 |website=forbes.ua |language=uk}}
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.{{Cite web |date=2021-08-17 |title=Трансформация Open Agribusiness, или Как Kernel стал опорой аграриев — Latifundist.com |url=https://latifundist.com/interview/553-transformatsiya-open-agribusiness-ili-kak-kernel-stal-oporoj-agrariev |access-date=2022-06-07 |website= |archive-url=https://web.archive.org/web/20210817110512/https://latifundist.com/interview/553-transformatsiya-open-agribusiness-ili-kak-kernel-stal-oporoj-agrariev |archive-date=17 August 2021 |url-status=dead}}{{Cite web |date=2021-08-17 |title=Для Kernel покупка 10%доли - это степень доверия, а не инструмент поглощения - руководитель проекта Open Agribusiness агрохолдинга |url=https://interfax.com.ua/news/interview/746991.html |access-date=2022-06-07 |website= |archive-url=https://web.archive.org/web/20210817110513/https://interfax.com.ua/news/interview/746991.html |archive-date=17 August 2021 |url-status=dead}}{{Cite web |date=2021-08-17 |title=Open Agribusiness: ЯК УКРАЇНСЬКІ АГРАРІЇ ОБ'ЄДНУЮТЬСЯ З KERNEL |url=https://landlord.ua/wp-content/page/open-agribusiness-yak-ukrayinski-agrariyi-obyednuyutsya-z-kernel/ |access-date=2022-06-07 |website= |archive-url=https://web.archive.org/web/20210817110512/https://landlord.ua/wp-content/page/open-agribusiness-yak-ukrayinski-agrariyi-obyednuyutsya-z-kernel/ |archive-date=17 August 2021 |url-status=dead}}
In 2023 Kernel Holding announced its intention to delist from Warsaw Stock Exchange. Andrii Verevskyi announced an offer to buy out all the shareholders in Kernel Holding at a share price approximately three times below their pre-war value, claiming the exit was due to Russia’s invasion of Ukraine.{{Cite web |date=2023-03-09|title=Ukrainian Firm's Exit Marks Rude Awakening for Warsaw Bourse|url=https://www.bloomberg.com/news/articles/2023-03-09/ukrainian-investor-s-exit-marks-rude-awakening-for-warsaw-bourse|access-date=2023-07-12|website=bloomberg.com|language=en}}
The delisting was described as a cynical move to push out minority shareholders which could undermine foreign funding for the postwar reconstruction of Ukraine. {{Cite web |date=2023-06-14|title=Polish regulator set to clear Ukrainian group's delisting from Warsaw exchange|url=https://www.ft.com/content/d18c493c-1b5a-45ee-99bd-967f3f692e07|access-date=2023-08-30|website=ft.com|language=en}}
Verevskyi is currently entangled in a bitter courtroom fight with minority shareholders. {{Cite web |date=2024-06-12|title=Ukrainian agricultural group boss warns Kyiv against export feud with EU|url=https://www.ft.com/content/0e420b8c-132c-42fc-bddf-c354f46b8856|access-date=2024-06-13|website=ft.com|language=en}}