After AB "Linas Agro Group" acquired controlling stakes in companies belonging to and affiliated with "KG Group," there is a change in the leadership of AB "Kauno Grūdai." Andrius Pranckevičius, the deputy chairman of the board of "Linas Agro Group," who previously led the Group's poultry companies in Latvia, assumes the position of CEO.
"With this transaction, I am essentially returning to Lithuania after working in Latvia for the past 6 years, overseeing the operations of the Group's poultry companies. I take on new responsibilities within one of the key acquired companies. From today, with changes in shareholders, I assume the position of CEO of AB 'Kauno Grūdai.' Together with the teams working in this company and other acquired companies, we will continue all activities conducted until now, across multiple countries," notes Andrius Pranckevičius.
Following the change in shareholders, there are planned few minor changes in the main acquired companies - AB "Kauno Grūdai," AB "Kaišiadorių paukštynas," AB "Vilniaus paukštynas" - involving changes in the boards, which previously included former shareholders. Remigijus Veikalas continues to serve as the CEO of AB "Kauno Grūdai." The current CEO, Darius Gudačiauskas, remains in charge of the Vilnius and Kaišiadorys poultry farms.
"These minor changes are necessary to implement the planned synergies in the poultry and grain business segments and ensure business functions spanning several countries. We do not plan drastic changes, such as closing companies or discontinuing certain activities. Our main goal now is for both groups to merge like two rivers and, as a strong, innovative, competitive corporation, reach the markets of the Baltic Sea countries with our products," says A. Pranckevičius.
Andrius Pranckevičius has been with AB "Linas Agro Group" since 2005. Since 2009, he has held the positions of deputy CEO and deputy chairman of the board of AB "Linas Agro Group," overseeing the operations of four poultry companies in Latvia, managing activities in agricultural companies controlled by "Linas Agro Group," and serving as a member of the supervisory board of AB "Ignitis group." A. Pranckevičius holds a bachelor's degree in business administration and management, a master's degree in marketing management from Kaunas University of Technology, and has completed the leadership program at Harvard Business School.
On July 15, AB "Linas Agro Group" completed one of the largest business acquisition deals in the history of Lithuania. The food and agriculture production and trading company acquired controlling stakes in AB "Kauno Grūdai," AB "Kaišiadorių paukštynas," AB "Vilniaus paukštynas," and related companies operating under the name "KG Group."
With this transaction, AB "Linas Agro Group" acquired controlling stakes in 34 companies operating in the poultry, grain procurement, flour, quick-ready product manufacturing, feed and premix production, and veterinary product trading sectors. These companies are registered and operate in Lithuania, Latvia, Estonia, Poland, Belarus, Russia, and the Netherlands.
Following this acquisition, AB "Linas Agro Group" becomes a vertically integrated group of agricultural and food production companies in the Baltic States, operating throughout the production chain and producing products from field to table. The Group's projected annual revenue could reach about 1.3 billion euros, with EBITDA around 50-60 million euros. The number of employees will increase from 2,100 to 6,000. After the transaction, AB "Linas Agro Group" will control 76 companies.