Apetit Group agrees on sale of Baltic Grain Trade unit

Helsinki / FI. (apg) Avena Nordic Grain, subsidiary of Finland’s Apetit Group, 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.