AS Agrova International, which is the parent company of AS APF Holdings (Nasdaq Riga: EGG), led by its founder Juris Adamovičs, has acquired 100% of the shares in the UK egg production and distribution company Sunrise Group, which brings together Sunrise Poultry Farms and Sunrise Eggs Holdings. The total value of the transaction is 40 million euros, making this one of the largest foreign acquisition deals by Latvian companies in recent years.
Following this step, Sunrise Group becomes a wholly owned subsidiary of Agrova International and will complement the Agrova group, which already includes the Latvia-based egg and egg product producer APF Holdings, thereby significantly expanding the operating geography of the Latvia-founded group and strengthening its position as a European-scale player in the egg and egg protein products industry. The deal was financially supported by Accession Capital Partners – a growth capital fund with substantial experience in fostering the development of agricultural businesses.
Sunrise Group is one of the most highly regarded egg production groups in the United Kingdom, with more than 60 years of experience. The company’s origins date back to the 1960s in the Soar Valley, Leicestershire, and its head office is now located in Sileby. The group supplies leading retail chains, as well as food manufacturers and the HoReCa sector throughout the United Kingdom.
Sunrise Group production facilities are certified according to the British Lion, RSPCA Assured and BRCGS standards. The group’s farms are located in Leicestershire and with reliable contract partners across the UK, while the central grading and packing plant in Sileby (Leicestershire) processes more than four million eggs per week. The company consistently invests in sustainable technologies, including modern quality control and robotic packaging systems, and implements initiatives to reduce its carbon footprint and use resources efficiently. According to audited financial data, Sunrise Group closed the last financial year with a turnover of 38.5 million euros.
Juris Adamovičs, founder of Agrova International and APF Holdings: “We are truly pleased to welcome the Sunrise team into the Agrova family – this synergy will strengthen our position in the European market and promote further growth. Sunrise is a company with strong operational fundamentals, a production capacity similar to our infrastructure in Latvia, and significant sales volumes across the United Kingdom. This step will allow Agrova International to more than double its turnover and scale of operations, while gaining access to one of the most advanced and dynamic food markets in Europe,” says J. Adamovičs.
Originally published at https://inc-baltics.com/agrova-international-par-40-miljoniem-lielbritanija-iegadajas-olu-razotaju/
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