AB Linas Agro Group acquired farming company together with its owner.
A subsidiary of AB Linas Agro Group UAB Linas Agro Konsultacijos has acquired 100% of shares of UAB Žemės Ūkio Investicijos for 18.6 million litas.
UAB Žemės Ūkio Investicijos is the asset management company whose main asset is a 98.07% stake in farming company Panevezys district Žibartoniai ŽŪB.
Panevėžys district Žibartoniai farming company cultivates 3,210 ha of land and has 105 employees. The scope of its activities includes dairy and crop production: it raise 2,480 heads of cattle, from them 800 are dairy cows; also cultivate oilseed rape, wheat, barley, corn and sugar beet. Annual production of the company includes over 6,300 tons of milk, over 7,200 tons of grain, about 1,600 tons of rapeseed, nearly 13,000 tons of sugar beet.
During twelve months period from July 2012 to June 2013 sales revenue of the company totaled LTL 22.3 million, EBITDA (earnings before interest, tax, depreciation and amortization) amounted to LTL 5.98 million and the net profit was LTL 5.3 million.