Agrova International, a prominent player in the food and beverage industry, has successfully secured an investment from Accession Capital Partners (ACP), a private equity firm. This investment comes through ACP’s Luxembourg-based vehicle, AMC V SCA SICAV-RAIF, highlighting strategic growth opportunities within the food and drink business.
Under the terms of the agreement, ACP has acquired a 23% stake in Agrova by subscribing to a new share issuance. While financial specifics were not disclosed, the funding is poised to provide a strong financial foundation for enhancing production capabilities in Latvia, particularly through the modernization of the Alūksne poultry farm. This aligns with current consumer trends that favor high-quality food products.
Additionally, Agrova will utilize this investment to facilitate the acquisition of Sunrise Group, a UK egg supplier catering to retail and supermarket chains. The purchase, announced in November for €40 million, significantly expands Agrova’s operational presence and strengthens its role as a European leader in the egg and egg protein sector.
Jurijs Adamovičs, the founder of APF Holdings and Agrova, emphasized the significance of ACP’s investment, stating, “As an international investor with extensive experience in the manufacturing, agriculture, and consumer goods sectors across Central and Eastern Europe, ACP will provide us with valuable additional capital for future growth.” This partnership reflects the ongoing potential of the food and drink consumer trends in the region.
To further enhance governance and strategic oversight, Agrova has established a supervisory board. Ruta Amtmane has been appointed as the chair, bringing her expertise from the supervisory board of APF Holdings and airBaltic. Additionally, Dmytro Kistechko from ACP will serve as a representative on this board.
Piotr Sadowski, a partner at ACP, remarked, “This transaction reflects our long-term commitment to the manufacturing and food sectors in the Baltic region, as well as our confidence in the market’s potential beyond the region’s borders.” He further indicated an intent to leverage opportunities within the European food production market, aligning with emerging trends in food and drink.
Headquartered in Riga, Agrova International primarily focuses on investments within the food and beverage industry, maintaining a majority stake in APF Holdings, which operates extensively in poultry and egg production.
For further insights on industry trends, you can explore relevant reports on the food and beverage industry’s evolving landscape, including key consumer trends.
In closing, we recently wrapped up the nominations for the Just Food Excellence Awards. A heartfelt thank you to all organizations that participated; your remarkable engagement demonstrates exceptional innovation and leadership.
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