Vilnius, 15 December 2011. Litagra, which is one of the largest agriculture company groups in the Baltic countries, has completed its share capital increase and obtained new shareholder – the investment company Invalda, which will hold 36.9 percent of shares of the company. The shares were acquired for 38.6 mLTL, including which 37.1 mLTL of new capital injected to Litagra for the future business expansion.
The share capital increasing of Litagra was closed on 15 December 2011, when was receive a permission of the Competition Council.
„As we have already announced, the new capital will help us to strengthen both our services to farmers and grain trading businesses at the same time allowing us to expand grain and milk production. We also do not rule out opportunity to consult acquisitions“– said Gintaras Kateiva the founder and Chaiman of the board of Litagra.
After the transaction, Mr. Gintaras Kateiva owns 37% of Litagra shares, Invalda Group – 36.9%, investment fund Amber Trust II – 18%, Mr. Dziugas Grigaliunas and Mr. Adomas Grigaitis, managers of Litagra Group, – 6.4% and 1.7% respectively.
„We are optimistic about the Lithuanian agriculture sector. We also believe that our investment and efforts will actively assist Litagra to strengthen its regional leadership position, create added value to farmers, employees, investors and other stakeholders“ – said Darius Sulnis, the president of Invalda.
Darius Sulnis, Vytautas Bucas, and Dalius Kaziunas, representatives of Invalda, were elected as Members of the Board (consists of seven members) of the company, as well Mr. Gintaras Kateiva, Mr. Dziugas Grigaliunas, Mr. Adomas Grigaitis and Mr. Martynas Cesnavicius – representative of Amber Trust II.
The companies of Litagra Group are engaged in the primary crop and livestock (milk) production, grain processing and agricultural services. Group companies trade in plant protection products, fertilizers, seeds, compound feed, feed supplements, veterinary products. Moreover, companies buy grain, provide drying of grain and other raw materials, cleaning, loading and storage services. Group companies provide agricultural services in Lithuania, Latvia and Estonia.
The largest companies in Litagra group are Litagros prekyba (with a branch Litagra Latvija), Litagros grudai UAB, Litagra OÜ in Estonia, Joniskio grudai AB, Taurages grudai AB, Marijampoles grudai AB, Kedainiu grudai AB, Aristava in the Kedainiai district, Berzu agricultural company in the Kedainiai district, agricultural company Bausai, agricultural company of the Kalpoku land, agricultural company of the Sesupes land, Slapaberzes agricultural company, Ranktineliu agricultural company and others.
During the three quarters of 2011 the consolidated sales of Litagra Group was 271.7 mLTL (78.7 mEUR), i.e. 17.5% higher than during period of the last year (231.3 mLTL (67 mEUR)). EBITDA of Litagra Group during the appropriate period has increased by 19% – from 16.3 mLTL (4.7 mEUR) to 19.4 mLTL (5.6 mEUR).
About Invalda AB
Invalda AB, established in 1992, is the investment company whose primary objective – focusing on long-term stable growth, successful development of activities and assuring financial returns to shareholders. The largest part of Invalda Group activities are performed in Poland and Lithuania.
Shares of Invalda have been listed since December 19, 1995 (then the National Stock Exchange of Vilnius, Lithuania). From the January 1, 2008 the company’s shares have been on the Main List of NASDAQ OMX Vilnius stock exchange.
The person authorised to provide additional information:
Darius Sulnis
President
Tel. +370 5273 4876
Email: [email protected]