AB Linas Agro Group, the largest agribusiness and food production group in the Baltic States, seeks to acquire UAB Agro Logistic Service, a trading company specializing in raw materials and additives for fodder production.
AB Linas Agro Group has signed share purchase and sale agreement with the aim to acquire 100 of shares of UAB Agro Logistic Service.
UAB Agro Logistic Service is a trading company that successfully trades in Western European markets. It is a strategic partner of KG Group companies in raw materials for fodder trading business.
“A year ago, we started the process of acquiring companies operating under the name of KG Group and completed it on July 15 this year. After the completion of the transaction, we decided to acquire UAB Agro Logistic Service, a trading company specializing in raw materials and additives for fodder production, as it is a permanent partner of KG Group, has excellent export channels and a wide range of customers. Last year, UAB Agro Logistic Service was not on sale because it is owned by different shareholders,” said Mažvydas Šileika, Finance Director of AB Linas Agro Group.
UAB Agro logistic service has 10 employees; its revenue exceeded 33 million euros in 2020. The company sells goods in the Czech Republic, Poland, Latvia, Estonia, Italy, Germany, Finland, Norway, Denmark, Russia, Belarus, Uzbekistan and Tajikistan.
As AB Linas Agro, a subsidiary of AB Linas Agro Group, is also engaged in feedstuff trading, the transaction must be approved by the Competition Council of the Republic of Lithuania. The details of the transaction were not disclosed by the agreement of the parties.
