Jurijs Adamovičs, the largest shareholder of APF Holdings (hereinafter - APF), which includes one of Latvia’s largest poultry and egg production companies Aluksne Poultry Farm has founded a new food production group Agrova International. The new group aims to become a rapidly growing European player in poultry farming, egg production, and innovative egg-based products.
Agrova International has acquired the APF shares owned by J. Adamovičs and will also purchase new production assets across Europe, building Agrova International into a multinational group with diversified operations in several countries. Announcements regarding the addition of new assets to the Agrova group are expected within the next 3 -6 months.
APF, in turn, will continue its development in the Baltic region as part of Agrova International and will remain a publicly listed company on Nasdaq Riga.
The development of Agrova International will be financed through both J. Adamovičs’s investments and capital raised from international financial investors for new asset acquisitions. In parallel, Agrova International will invest EUR 25 million next year in the development of Aluksnes putnu ferma to further strengthen the company’s operations in the Latvian and Baltic markets.
“The purpose of establishing Agrova is to significantly expand our market presence across Europe by creating synergies between the already successful APF group and its Aluksne poultry farm, and new production companies from other countries that we plan to integrate into the Agrova group. I have no doubt that existing APF shareholders will also benefit, as Agrova’s formation will attract new investment and open broader development opportunities in the future. The successful growth of APF and its innovative approach to egg and egg protein product manufacturing have provided the impetus to create this new international group, as I see a growing and sustainable demand for egg protein products not only in the Baltics. Agrova’s goal is to seize this opportunity and expand beyond the region,” says Jurijs Adamovičs, Founder of APF Holdings and Agrova International.
The shares of AS APF Holdings are admitted to trading on Nasdaq Baltic First North Market.
About APF Holdings
APF Holdings (NASDAQ: EGG) is a dynamic group of companies engaged in poultry farming, chicken egg production and trading, as well as gas and organic fertilizer production related to poultry farming processes. Our portfolio includes SIA Alūksnes putnu ferma (poultry farming and egg production), SIA APF Trading (wholesale trade in chicken eggs), SIA Oluksne (providing poultry farming and egg production services), SIA APF Energy (gas and organic fertilizer production), and SIA Preiļu putni (poultry farming and young chicken rearing). Founded in 2017, APF Holdings has become a leading player in the Baltic region's poultry and egg industry.