Litagra, one of the largest agribusiness groups, has completed the acquisition of shares in Noragra, a company operating in the Šakiai district, thus expanding its milk production. The shares were acquired from Norwegian investors with the permission of the Lithuanian Competition Council.
“We completed the transaction under conditions of high volatility in prices of production and raw materials. We believe that food production is currently one of the priority areas for investment, ” Vaidas Navickas, CEO of Litagra Agricultural Center, said.
Noragra owns on about 1.7 thousand hectares of arable land and has 750 dairy cows. “In the future we intend to increase the number of cows, build new farms and expand milk production,” said V. Navickas.
The transaction was financed by Luminor Bank. Litagra group was advised on legal issues by the law firm Wint.
Litagra’s largest shareholders are the company’s founder Gintaras Kateiva and Invalda INVL.
More information:
Vaidas Navickas
CEO of Litagra Agricultural Center
e-mail [email protected]