As part of a public equity offering, Auga Group sold shares for €36m ($42.1m), and the EBRD invested €9m ($10.5m) to acquire an 8.7% stake in the company.
Auga Group plans to invest the funds to unlock synergies across its farming activities and diversify its product range by expanding into building modern dairy farms, a combined feedstock production plant and a biogas production plant, as well as moving into value-added production by increasing its packaged organic products.
The successful completion of the initial public offering and the EBRD participation will also help finance investments in innovative green products and technologies as well as sustainable agricultural practices.
The bank has been working in Lithuania since 1991 and has invested €790m ($925m) in 85 projects to date. Capital market development, the green economy and strengthening local companies are the EBRD’s priorities in the country.