KYIV, UKRAINE — Kernel Holding S.A., one of Ukraine’s largest agricultural groups, has acquired Rail Transit Kargo Ukraine (RTK-Ukraine) for $64 million, including $49 million in cash.

RTK-Ukraine owns 2,949 grain railcars, accounting for nearly 15% of the market in Ukraine. It is the second largest grain hopper wagon fleet operator in the country after the state monopoly Ukrainian Railways.

“The acquisition shall not only contribute an estimated incremental EBITDA of up to $20 million annually and protect the company against ever rising logistic costs, but it shall also procure the smooth and efficient flow of grains from inland silos to the ports as the company’s export volumes increase following the commissioning of TransGrainTerminal in the port of Chornomorsk,” Kernel Holding said.

Separately, Kernel announced that one of its subsidiaries has acquired a 5.85% interest in ViOil Holding Ltd. ViOil controls two multiseed oil extraction plants with annual crushing capacity of 1.1 million tonnes of sunflower seeds, as well as a network of silos in western Ukraine.