History
2003
The history of the Company begins with the purchase of the Avangard poultry farm and the incorporation of a subsidiary company "Avangard-Agro" located in West Ukraine not far from Ivano-Frankivsk. The holding company was later named after the first poultry farm acquired.
2003-2009
The Company implements a strategy of expansion through mergers and acquisitions, as well as organic growth. During this period, the Company purchased additional 18 laying farms, 3 hatcheries and 4 feed mills. In order to cover production needs for replacement flock, the Company constructs 7 rearing farms. During the same period, the Company constructs warehouses for long-term egg storage as well as 2 feed mills. This strategy ensures the Company’s presence in 14 regions of Ukraine and allows for the development of a vertically integrated business. In 2007, the "Imperovo Foods" egg processing plant started its operations (although it was not part of the Company until 2009). It was constructed by the Company and outfitted with state-of-the-art equipment in partnership with Sanovo, a world leader in the manufacture of egg processing equipment. The Company became the largest producer of shell eggs and dry egg products in Ukraine.
Avangardco IPL was incorporated on 23 October 2007 under the law of Cyprus to serve as the ultimate holding company for Avangard.
2010
AVANGARDCO IPL enters international financial markets by successfully completing an IPO on the London Stock Exchange and attracting USD 208 million in investment. An additional USD 200 million was raised through a Eurobond placement.
2011-2013
The Company continues growing organically. Through a large-scale investment program culminating in the construction of the Avis and Chornobaivske modern poultry complexes, its laying capacity increased to 30.1 million hens, while annual production capacity reached 8.6 billion eggs. In 2013, the Company completes the project for increasing egg processing capacity at Imperovo Foods to 6 million eggs daily.
2014
In 2014, the Company receives important approvals necessary for the further successful development of its exports. On 30 September 2014, Imperovo Foods receives official authorization to export dry egg products to the European Union. On 18 August 2014, the Company’s eggs and dry egg products become Kosher certified.
In 2014, the Company suspends and recognises impairment the following assets: the laying farm "Yuzhnaya Holding", rearing farm "Yuzhnaya Holding", laying farm and hatchery "Ptytsecomplex" due to the annexation of the Autonomous Republic of Crimea, as well as the laying farm "Chervonyi Prapor", rearing farm "Chervonyi Prapor", laying farm "Interbusiness" and "Vyhlehirskyi feed mill" due to a military conflict in Eastern Ukraine. The Company also reduces the number of laying hens at the farms lying close to the conflict zone. Thus, as of 31 December 2014, the Company’s total available capacity for laying hens amounts to 21.7 million hens.
2015
On 28 October 2015, AVANGARDCO IPL restructures a USD 200 million Eurobond that represents a lion's share of its debt portfolio shifting the maturity from October 2015 to October 2018.
2016
The Avis poultry complex successfully completes with ISO 22000:2005 certification (Food safety management system).
2017
Avangardco enters into the discussions with various creditor groups regarding the proposal of restructuring of its debt.
Avangardco group completes ISO 9001:2015 certification for its quality management system, while the Chornobaivske poultry complex gets certified to ISO 22000:2005 (Food safety management system).
In November 2016, Avangardco IPL launched a biogas plant at the Chornobaivske poultry complex that started generating electricity in 2017.
2018
On January 2018, AVANGARDCO IPL expanded further into the packaged shell egg market in Ukraine with a launch of Kvochka XL, its new range of packaged shell eggs in the premium category.
Avis poultry complex has received approval to export class (grade) A eggs to the European Union effective from February 28, 2018.
2019
On February 2019, AVANGARDCO has certified its production of shell eggs at the Avis and Chornobaivske poultry complexes to comply with the Halal requirements.