Lantmännen sells its shares in Rigas Dzirnavnieks to Malsena
Following the decision of Lantmännen Cerealia to have a focus on the Scandinavian market in the future, its board of directors has adopted a decision to sell its shareholding in the joint stock company (JSC) Rigas Dzirnavnieks. The buyer is Malsena, one of Lithuania's leading grain processing companies. Upon signing the purchase contract Malsena will assume responsibility for about 90 workers employed by the company; it will also continue regular supplies to the customers of Rigas Dzirnavnieks.
“This deal will strengthen our position in the market and will enable us to offer a wider range of products. It is also our ambition to become successful exporters in international markets”, says Gintautas Migonis, CEO of UAB Malsena Plius.
“We have decided to continue to focus on the Scandinavian market and consequently, sell our shares in JSC Rigas Dzirnavmieks. We appreciate that the new business owner is from the grain processing industry, which means the company's strategy will continue to be successfully pursued”, says Carsten L. Thomsen, CEO of Lantmännen Cerealia.
The sales deal was closed on 20 March 2013.
If you have questions, please contact:
Carsten L. Thomsen, CEO of Lantmännen Cerealia
Mobile phone: +4520206011
Gintautas Migonis, CEO of UAB Malsena Plius
Phone: +370 687 40256
Malsena is one of the largest and most advanced grain processing groups in Lithuania. Owing to the knowledge of modern grain processing technology, the company produced a wide range of products: various types of wheat and rye flour, flour mixes, wheat germ and bran. Modern technology enables the Group to adapt to market demand and offer the best quality products to its customers. Consumer need drives a continuous expansion of Malsena's product range. Further information: www.malsena.lt
Lantmännen Cerealia owns such brands as AXA, Kungsörnen, GoGreen, Start, Regal, Amo, Kornkammeret and Gooh and occupies a leading position in Scandinavian markets. Lantmännen Cerealia is part of Lantmännen which is one of Scandinavia's largest groups in the agricultural, equipment, energy and food industries. We are owned by 35,000 Swedish farmers; we employ more than 10,000 employees. Our products are distributed in twenty-two countries generating revenues of 38 billion SEK. The company benefits from the knowledge and values accumulated by our owners over centuries. This, in combination with the fact that the Lantmännen production process entails proximity to consumers, enables us to be in control of and have responsibility for all stages of production. Further information: www.lantmannen.com or www.lantmannen.se