Agrova International gains 23% stake investment from Accession Capital
Move sets up supervisory board for group’s European expansion.
LATVIA – Accession Capital Partners has invested in Latvian agri-food company Agrova International through a fund it manages.
The private equity firm used its Luxembourg entity AMC V SCA SICAV-RAIF for the transaction, as outlined in a company release.
ACP took a 23% holding in Agrova by participating in a fresh share issuance.
Agrova serves as the parent of Nasdaq-listed APF Holdings, and no financial details emerged from the agreement.
The capital injection creates a solid base for scaling up output in Latvia, such as upgrading the poultry facility in Alūksne.
It further backs Agrova’s November purchase of UK egg provider Sunrise Group for €40m (US$46.1m).
Agrova stated at the time that the Sunrise deal extends its activities across Europe and cements its role in the egg and egg protein sector.
Jurijs Adamovičs, Agrova and APF Holdings founder, noted ACP brings capital and know-how from manufacturing, farming, and consumer products in Central and Eastern Europe.
New oversight structure
Agrova has formed a supervisory board to guide its governance and strategy over time.
Ruta Amtmane took the chair position; she also acts as deputy chair at APF Holdings and serves on airBaltic’s board.
ACP investment manager Dmytro Kistechko joined the board to represent the firm.
Piotr Sadowski, an ACP partner, called the deal a sign of sustained interest in Baltic manufacturing and food operations.
He added that the tie-up opens doors in wider European food production.
Headquartered in Riga, Agrova International invests in agri-food with a controlling stake in APF Holdings’ poultry and egg activities.
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