SIA “Linas Agro”, part of the agriculture, food production and trading group “Akola group”, and SIA “Elagro Trade” have completed their merger. From 2 June this year, both companies will operate under a single name – SIA “Linas Agro” – with the aim of becoming one of the leading agricultural companies in Latvia.

The infrastructure acquired as part of the transaction includes grain intake elevators in Eleja, Jēkabpils and Skulte, which will bring total grain storage capacity up to 161,000 tonnes, as well as warehouses for seed, fertiliser and plant protection products, and liquid fertiliser storage facilities in Eleja and Jēkabpils.

Since 2010, SIA “Elagro Trade” has traded in grain, seed, plant protection products and fertiliser, accounting for roughly 15% of the market. In 2023, the company's turnover reached 154 million euros, while EBITDA (earnings before interest, taxes, depreciation and amortisation) stood at 2.1 million euros.

“We have been operating in Latvia since 2003, and our grain intake capacity and warehouse space, as well as our market share, were considerably smaller. By completing the merger, we are substantially strengthening our position in the country – expanding our infrastructure and deepening our understanding of the market. This transaction will give us the same leading position in Latvian grain exports that we hold in Lithuania, and it will also improve the operating and financial results of the entire group,” says Martin Ingemann Jensen (Martin Ingemann Jensen), Chairman of the Board of SIA “Linas Agro”.

The company's head adds: “The merger was an interesting and challenging process – two teams and two companies had to be brought together while maintaining and improving the customer experience. It took a great deal of professionalism and commitment. With more than 150 professionals and infrastructure across Latvia, we are confident in the long-term stability of the company and its employees, and in the strengthening of our position throughout the Baltics.”

He adds that, in addition to this transaction, the group is also strengthening its position in the certified seed segment of the Latvian market – the group's company SIA “Dotnuva Seeds” is opening a new seed plant in Iecava. The plant is expected not only to increase the company's competitiveness in the Baltics, but also to contribute significantly to the development of the agricultural sector in the region.

About “Akola group”

“Akola group” is the largest agricultural and food production group in the Baltic States, employing more than 5,000 people. The group operates across the entire food production chain, “from field to table”, producing, processing and selling agricultural and food products, as well as supplying goods and providing services to farmers.