The Lithuanian Competition Council has granted permission to AB "Linas Agro Group" to proceed with the concentration by acquiring AB "Kauno grūdai," AB "Kaišiadorių paukštynas," and AB "Vilniaus paukštynas," along with the controlling share packages of related companies. The transaction is planned to be completed by the end of July, subject to the fulfillment of the conditions outlined in the share purchase agreement signed in October of last year.
Upon successful completion of the deal, "Linas Agro Group" will acquire 34 companies operating in the three Baltic states, Russia, Belarus, Poland, and other countries.
Approval for the concentration has also been granted by competition supervision authorities in Latvia, Estonia, Poland, and Russia.
"After this acquisition, 'Linas Agro Group' will become a vertically integrated food and agriculture business group, providing products 'from field to table' and creating greater added value for customers in all areas of activity," notes Mažvydas Šileika, CFO of AB "Linas Agro Group."
More information about the transaction will be provided upon completion.
About AB "Linas Agro Group"
AB "Linas Agro Group," together with its controlled companies, forms a Group founded in 1991, operating in four countries – Lithuania, Latvia, Estonia, and Ukraine. The Group employs 2,100 people.
The Group's companies produce, process, and sell agricultural raw materials and food products, supplying goods and services to farmers. The Group is one of the largest exporters of Lithuanian and Latvian grains, with its network of thirteen grain elevators. It is also a leading supplier of goods to farmers (certified seeds, fertilizers, and agricultural machinery) in Lithuania and operates a seed processing plant. In Lithuania, the Group manages seven agricultural companies and is a major dairy producer. It is also the largest poultry producer in Latvia, owning four poultry companies.
AB "Linas Agro Group" reported consolidated revenues of EUR 712 million for the nine months of the 2020–2021 financial year, with a net profit of EUR 29.2 million. The consolidated earnings before interest, taxes, depreciation, and amortization (EBITDA) amounted to EUR 17.1 million.