Cobalt has advised the Linas Agro Group on its acquisition of Grybai LT from Auga. Walless advised Auga.
According to Cobalt, “the acquisition of a part of the Auga business, specifically the soup and canned products production division of the cooperative company Grybai LT, by Kauno Grudai – controlled by the AB Linas Agro Group” – is a new step in the Linas Agro Group’s development path.
According to the firm, “Grybai LT was established in 2012 with the aim of processing mushrooms grown in Lithuania. Since 2016, in a modern robotic factory, Grybai LT started producing ready-to-eat products such as soups and canned vegetables. The Auga brand is not being purchased. Only the production base, production recipes, and contracts with buyers are being acquired.”
Moreover, Cobalt reports that “by investing EUR 4.4 million over the next 5 to 6 years, Kauno Grudai plans to expand Grybai LT's production capacity from the current 3,000 tons per year to 11,000 tons. Additionally, the goal is to increase the annual EBITDA of Grybai LT from EUR 1.3 million to EUR 6 million.”
The Linas Agro Group and Kauno Grudai operate in the field of chicken meat production.
Back in 2021, Cobalt had helped the Linas Agro Group obtain clearance in Latvia for its acquisition of the Kauno Grudai Group (as reported by CEE Legal Matters on March 4, 2021).
The Cobalt team included Managing Partner Irmantas Norkus and Senior Associate Zygintas Voronavicius.
The Walless team included Partner Dovile Burgiene and Associate Partner Arturas Grimaila.
