Lithuania: Kauno Grudai completes acquisition of Grybai LT

Lithuanian agricultural company Kauno Grudai has completed the acquisition of 100% of shares in the local agricultural cooperative, Grybai LT, from organic food producer Auga Group for EUR 16.327mn, GlobeNewswire reports. Kauno Grudai bought the shares from Auga Group’s subsidiaries for EUR 12.949mn and repaid Grybai LT’s loan of EUR 3.379mn. Also, Kauno Grudai granted EUR 4.1mn of new loans to Grybai LT. Sirvintos-based Grybai LT produces and sells ready meals, such as soups, canned vegetables, stews, and grain bowls. Kauno Grudai’s parent group, Linas Agro Group, plans to invest around EUR 4.4mn in expanding Grybai LT’s production by 3.7 times over 5-6 years, GlobeNewswire reports.