One of the largest Lithuanian agricultural companies Litagra, UAB was split into two companies: LP Grupė, UAB, which takes over the grain elevator rent and trade business, and Litagra, UAB which controls the feed production and agricultural production business.
„The reorganization is necessary to close the deal with the Achema Group, which purchases the grain elevator rent and trade business“ – says Gintaras Kateiva, the Chairman of the Board of Litagra, UAB.
The Head of the Litagra, UAB will be Mindaugas Bareišis, who was the Finance director of the group. Litagra, UAB will manage the feed production company Joniškio grūdai, UAB and agricultural production business controlling company Litagros žemės ūkio centras.
The head of the LP Grupė, UAB will be Adomas Grigaitis, who is also the Managing director of Litagros Prekyba, AB. The company will own elevator rent and trade business which is being sold to the Achema Group.
The current Managing director of Litagra, UAB Aidas Mackevičius will continue the cooperation with Litagra and will also coordinate the completion of the deal with the Achema Group.
About Litagra
The Litagra Group consists of companies active in the fields of trade in agricultural products and feed, livestock, dairy, fertilizers and plant protection products. The group owns Litagros Prekyba AB (with subsidiary Litagra SIA), Joniškio Grūdai UAB, Litagros Žemės Ūkio Centras ŽŪB, and other companies. According to the preliminary data of the fiscal year ended 30 June, consolidated revenue of Litagra amounted to EUR 165 million (in the previous fiscal year the audited revenue was EUR 155 million). It is expected to get higher net profit than in 2015-2016 fiscal year.