After receiving the permits of the Lithuanian and Polish competition authorities, AB Linas Agro Group today signed an agreement with UK based company Environmental Development Holding Limited for the acquisition of 100% shares of UAB Agro Logistic Service. The transaction amount is EUR 1.7 million.
UAB Agro Logistic Service is a feed materials and additives trading company with a headcount of 10 people.
The company sells goods in the Czech Republic, Poland, Latvia, Estonia, Italy, Germany, Finland, Norway, Denmark, Russia, Belarus, Uzbekistan, and Tajikistan. Its revenue exceeded 33 million euro in 2020.
“UAB Agro logistic service is very tightly connected with the business of AB Kauno Grūdai. Its acquisition allows us to extend and improve economic relations with many partners of Kauno Grūdai. It is crucial for relations with Western European partners. According to preliminary data, the company’s revenue grew by 55% to almost EUR 52 million in 2021. The annual traded volumes should exceed 600 thousand tons, so it contributes a solid portfolio of products and customers to our group of companies,” said Mažvydas Šileika, Chief Executive Officer of AB Linas Agro Group.