Infortar expands in Lithuania, acquiring Litagra
Estonian investment company Infortar, through its subsidiary Infortar Agro, has acquired Litagra, one of Lithuania’s leading agricultural groups, from its founder Gintaras Kateiva, Invalda INVL and Adomas Grigaitis. The transaction, which values Litagra group at an enterprise value of EUR 95 million, is believed to be one of the largest Estonian investments in Lithuania to date.
“Lithuania has a strong agricultural sector built on long-standing traditions and expertise, as well as an attractive investment environment. Our investment is supported by growing demand for raw milk. Dairy farms across the Baltic states produce currently less milk than processing facilities can handle. Looking further ahead, we also expect milk production to shift increasingly from Western and Central Europe to our region,” said Ain Hanschmidt, Chairman of the Management Board of Infortar.
“We need to seize this window of opportunity, establish our region as a major dairy producer and secure our position in international competition. From a national perspective, developing agriculture strengthens food security and helps sustain communities and jobs outside major cities,” Hanschmidt added.
“When we started building Litagra in 1991, it was hard to imagine the journey the company would take over 35 years. Today we have a strong group of businesses, built by many people. I am sincerely grateful to the entire Litagra team, and to our long-standing partner and shareholder Invalda INVL for the trust, the collaboration and the decisions that allowed Litagra to grow and strengthen. I would like to wish the new strategic shareholder, who understands agriculture and has long-term ambition and capability, every success in continuing the Group’s growth,” said Gintaras Kateiva, founder of Litagra.
“First and foremost, I would like to thank Litagra’s former shareholders for their trust in the management team, the opportunity to grow the group’s businesses together, and for everything we achieved over the years. Today a new chapter begins with Infortar, which brings ambitious new goals and new opportunities for us as a management team. We take on this responsibility with great commitment and are ready to continue the work we have started, strengthen the existing businesses and, together with our new shareholder, pursue further growth opportunities for Litagra,” said Evaldas Matulis, CEO of Litagra.
“This transaction is a great example of how we operate: we invest, work closely with management to build value, and sell the business when the time is right. Over 15 years, together with Litagra’s founder and management team, we transformed the company from a grain trading and agricultural services business into a higher value-added, vertically integrated food producer focused on dairy, poultry and feed manufacturing. I would like to thank Litagra’s founder, Gintaras Kateiva, and the entire team for the value we have created together, as well as Infortar for the professional and constructive cooperation throughout the transaction,”, said Darius Šulnis, CEO of Invalda INVL.
The transaction will generate approximately EUR 5 million in additional profit for the Invalda INVL group compared with the investment value reported in the financial statements as of 30 June 2026.
Infortar Agro received the necessary approvals from the Lithuanian, Latvian and Estonian competition authorities in October, clearing the way for completion of the transaction. Following the acquisition of Litagra, Infortar Agro’s combined herd will total 16,600 head of cattle, annual milk production will reach 93,000 tonnes, and the total area of cultivated land will expand to 23,000 hectares. The acquisition also marks Infortar Agro’s entry into poultry farming, adding turkey and broiler operations to its portfolio.
Litagra’s existing management team will continue to oversee the company’s day-to-day operations, and Infortar does not plan any significant changes to Litagra’s current business activities as a result of the transaction.
Litagra was advised on the transaction by Oaklins Lithuania as its M&A adviser and NOOR as its legal adviser. Infortar was advised by KPMG on financial, tax and commercial due diligence, while Ellex served as its legal adviser.
Last year, Infortar acquired Estonia Farmid, one of Estonia’s largest dairy producers, following its acquisition of Halinga Farmid the previous year. Together, these farms have approximately 8,300 dairy cows and young cattle, with daily milk production reaching 160 tonnes. Infortar’s agricultural subsidiaries currently hold more than 13,000 hectares of land in Estonia.
About Litagra
Founded in 1991, Litagra is a Lithuanian agricultural group operating in dairy farming, crop production, poultry farming, animal feed production and other agricultural activities. The Litagra Group includes UAB Joniškio Grūdai, UAB Litagros Žemės Ūkio Centras and Agrohold Estonia OÜ, all wholly owned by UAB Litagra. The group comprises 34 companies in total.
Litagra employs approximately 400 people. In 2025, the group reported consolidated revenue of EUR 69 million and EBITDA of EUR 14.5 million. It cultivates a total of 10,500 hectares of land.
Litagra’s subsidiary UAB Litagros Žemės Ūkio Centras (LŽŪC) operates Lithuania’s third-largest dairy herd. The company runs eight farms focused on dairy farming and crop production. Its herd comprises approximately 8,300 dairy cows, young cattle and bulls, with average annual raw milk production of 35,000 tonnes.
Another Litagra subsidiary, UAB Sūduvos Ūkis, wholly owned by UAB Joniškio Grūdai, is the largest turkey farming company in the Baltic states. It operates 29 modern farms housing a total of 200,000 turkeys.
The group is also engaged in broiler farming, with a production capacity of approximately 360,000 broilers per rearing cycle. Its poultry operations are supported by UAB Joniškio Grūdai, which produced 69,000 tonnes of compound feed and related products in 2025, including protein, vitamin and mineral supplements, premixes, attractant feeds and pet food.
About Infortar
Infortar operates in seven countries across five main business areas: energy, maritime transport, real estate, engineering and construction, and agriculture. Infortar holds a 100% shareholding in AS Elenger Grupp, a 68.38% shareholding in AS Tallink Grupp and owns a diversified portfolio of modern real estate 143,000 m². INF Engineering brings together the group’s activities in engineering and construction, infrastructure development and construction minerals. Infortar Agro brings together Halinga Farmid and Estonia Farmid in Estonia and Litagra in Lithuania, with dairy farming, crop production, poultry farming and animal feed production. Following the Litagra acquisition, the Infortar Group comprises 141 companies, including three associates and two subsidiaries of associates. Excluding associates, Infortar employs 6,203 people. Infortar’s shares are listed on the Main List of the Nasdaq Tallinn Stock Exchange.
About Invalda INVL
Invalda INVL is a leading Baltic asset management group with a track record spanning more than 30 years. With an open approach, the group continues to grow and create wealth for people through its activities. The group’s companies manage or oversee EUR 2.3 billion in assets across various asset classes, including private equity, forests and agricultural land, renewable energy, real estate and private debt. The group’s activities also include family office services in Lithuania, Latvia and Estonia, pension fund management in Latvia, and investments in global third-party funds.
Invalda INVL’s shares have been traded on the Nasdaq Vilnius Stock Exchange since 1995. For more information, visit https://www.invaldainvl.com/en.
