Invalda Group has invested LTL 38.6 mln (EUR 11.2 mln) to buy 36.9 percent of Lithuania’s leading agricultural company Litagra. The deal was split up into LTL 37.1 (EUR 10.8 mln) mln worth of newly issued shares and LTL 1.5 mln (EUR .4 mln) from existing shareholders. Prior to the share issue, Litagra was valued at LTL 200 mln (EUR 57.9 mln).
Litagra is a market leader in the agricultural sector in Lithuania; with a valuation of LTL 200 mln (EUR 57.9 mln), the company is jointly owned by individual investors and PE funds. The company operates in domains such as crop-growing, animal husbandry and agricultural raw materials trading. Companies within the Litagra Group operate in Lithuania, Latvia and Estonia and focus on constantly upgrading capacities and range of services, each operating within its scope and monitored by the board.
Invalda is a key Lithuanian investment company with enhancing investor equity value as its main objective. Started in 1991, Invalda focuses on achieving significant control over the operations side of its target companies. The group of target companies employ over 5,000 people and jointly posted a 2010 turnover of LTL 1.9 bln (EUR .55 bln). From 1995 onwards, Litagra equities have been traded on the NASDAQ OMX Vilnius Exchange. Invalda primarily focuses on undervalued or competitive businesses that just lack capital infusion or management resources to take them to the next level.