RVC Biofund Announces the Closure of a Transaction to Sell a 50% Stake in the EastAgro Don Portfolio Company. The buyer was the company Tendercon, which is affiliated with investor Dmitry Doyhenym. The cost of the transaction is not disclosed.
The EastAgro Don Company is implementing a project to build a high-tech enterprise in the Lipetsk Region for the integrated processing of Jerusalem artichoke and to produce on its basis the oligofructose Jerusalem artichoke syrup enriched with inulin. In the future, it is planned to begin the production of inulin itself. Inulin is widely used in the food industry, in the production of biologically active additives and baby food, and serves as a raw material for the production of fructose.
The EastAgro Don plant will be located in the Dankov special economic zone on a 20-hectare site, with an annual Jerusalem artichoke processing capacity of 60 thousand tons and syrup production up to 8 thousand tons. In addition, a series of by-products for the food industry will be launched.
RVC Biofund acquired a 50% stake in EastAgro Don in 2015. In 2019, at the St. Petersburg International Economic Forum, EastAgro Don and SME Bank signed a roadmap for financing the project. The co-investors of the project are MSP Bank, MIR JSC, through the closed mutual investment fund MIR. Guarantors are the SME Corporation and the Government of the Lipetsk Region.