Apetit Plc, Inside information on 28 December 2021 at 09:30 a.m.
Apetit has agreed on selling the Baltic business operations of the Grain Trade
Apetit Group’s subsidiary Avena Nordic Grain has signed an agreement on selling the Baltic operations of the Grain Trade business to Scandagra Group which is a leading agriculture company in the Baltic countries.
The sale covers the business and assets of Avena’s companies in Estonia and Lithuania. The sale has no significant impact on the result. The transaction is expected to be completed during the first quarter of 2022. In order to be completed, the transaction requires the approval of the competition authorities in Estonia and Lithuania.
In 2020, the combined net sales of Avena's Estonian and Lithuanian companies was approximately EUR 94 million and the number of employees was 23. With the sales, the employees of Estonia’s and Lithuania’s business operations will transfer to Scandagra.
“The arrangement will significantly improve Grain Trade’s business. It is also in line with our strategy, as we have already announced our openness to business arrangements that suits to our strategy,” says CEO Esa Mäki.
For further information, please contact:
CEO Esa Mäki, tel. +358 10 402 2100
Apetit is a food industry company firmly rooted in Finnish primary production. Our operations are based on a unique and sustainable value chain: we create well-being with vegetables by offering tasty food solutions that make daily life easier. We also produce high-quality vegetable oils and rapeseed expellers for feeding stuff, and trade grain on the international markets. Apetit Plc's shares are listed on Nasdaq Helsinki. In 2020, Apetit Group's net sales were EUR 293 million.