Alexei Bogachev could not cook cheese with Vadim Moshkovich

The minority shareholder of Magnit sold to Moshkovich his stake in the Bondarsky cheese plant in the Tambov region.
20.09.2018
Kommersant
Origin source
The minority shareholder of Magnit, Alexei Bogachev, who once planned to develop a dairy project in the Tambov region on the basis of the Bondarsky Cheese Factory (BDZ), withdrew from this business. The asset went under the control of the founder of Rusagro, ex-Senator Vadim Moshkovich, who previously acted as a partner. Businessmen could disperse their views on business development, market participants say.

LLC "MSK-Construction", which manages the BSZ in the Tambov region, came under the control of Vadim Moshkovich from September 14, 2018, follows from the Unified State Register of Legal Entities. Through LLC "Financial resource" he owns 99% of the company, the rest of the businessman controls directly. Prior to this, 51% of the "MSK-Construction" owned LLC "Etimark", which is managed by Cyprus Labini Investments Ltd, associated with Alexei Bogachev.

"MSK-Construction" bought out BSZ from the administration of the Tambov region in early 2017. Then the only owner of the company was OOO Yug-Agro, associated with Mr. Bogachev. At the end of May 2017, 49% in the "MSK-Construction" received a "financial resource", the rest of the share - "Etimark." According to its own data, today BSZ annually produces more than 5,1 thousand tons of products, including 3,2 thousand tons of cheeses under the brands "Tambov", "Bondarsky", etc. After the change of owners in BSZ, they planned to modernize the plant and build several dairy farms (see "Kommersant" on June 22, 2017).

By the end of 2017, Bondar Cheese Factory LLC received 1.17 billion rubles. revenues and 121.2 million rubles. net profit (data "SPARK-Interfax"). BSZ CEO Stanislav Shalamkov refused to discuss the change in the composition of the founders of MSK-Construction. The head of this company, Sergei Tribunsky, did not answer questions from Kommersant.

Vadim Moshkovich takes 50th place in the Forbes rating with a fortune of $ 2 billion. His family owns more than 70% of the Rusagro group - one of the largest producers of pork, sugar and fat and oil products. The state of Alexei Bogachev Forbes estimates at $ 900 million. In addition to the minority stake in Magnit, he owns the Sistema bank and is engaged in real estate.

According to the source of Kommersant in the industry, Vadim Moshkovich and Aleksei Bogachev could disperse their views on the management of the BSP: "They have too different characters for the partnership to work." Aton's senior analyst Viktor Dima estimated the value of this business on the basis of reporting and data on comparable European companies of 0.8-1.2 billion rubles. taking into account the discount and the premium for control. Thus, the share of Mr. Bogachev could cost the buyer in the amount of up to 600 million rubles.

Yield in cheese making can exceed the indicator in production, for example, of drinking milk, where competition is even stronger, says Artem Belov, Executive Director of the National Union of Milk Producers "Soyuzmoloko". According to Euromonitor, in 2017 the volume of the Russian cheese market grew by 1.51%, to 694.8 thousand tons. Turnover increased by 7.6%, to 435.85 billion rubles. Director of Marketing ZAO Umalat Alexander Startsev, however, believes that the Russian cheese market is close to saturation: there are no niches for new big players, and the growth of large producers will continue due to the share of small companies. In "Magnite" they say that the presence of BSZ products this year has grown in several regions.

Interests in the dairy industry are also in Rusagro itself. In September 2018, the group reported that it began selling cheese and butter. The products are produced on request at the facilities of the Samara enterprise Alev. The general director of Rusagro Maxim Basov told Kommersant that BSZ is Vadim Moshkovich's personal project, while the asset is not planned to enter the perimeter of the group. Rusagro is said to intend to expand its presence in the dairy sector, and more details on the plans are to be communicated after the approval of the investment project at the end of the year. In the reception of Vadim Moshkovich did not respond to the request of "b". Contact with Alexei Bogachev failed.

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