The shares in ‘Pieno žvaigždės’, formerly controlled by the late Julius Kvaraciejus, were inherited by his wife and children

Following the death of Julius Kvaraciejus, a shareholder in “Pieno žvaigždės”, one of the country’s largest dairy processing companies, were inherited in roughly equal shares by his wife, Regina Kvaraciejienė, and his children, Rokas Kvaraciejus and Eglė Kvaraciejūtė-Ivanauskienė.

R. Kvaraciejienė inherited a total of around 2.4 million shares in the company, whilst R. Kvaraciejus and E. Kvaraciejūtė-Ivanauskienė each inherited 2.34 million shares, as reported by “Pieno žvaigždės” via the “Nasdaq” Vilnius Stock Exchange, as reported by “Pieno žvaigždės”.

In total, the deceased’s family inherited a 15.7 per cent stake in “Pieno žvaigždės”. R. Kvaraciejienė is a member of the “Pieno žvaigždės” board member; E. Kvaraciejūtė-Ivanauskienė was elected chair of the company’s board following J. Kvaraciejus’s death, whilst R. Kvaraciejus serves as a member of the supervisory board.

According to “Pieno žvaigždės” publicly disclosed data updated in May, the late Mr Kvaraciejus’s wife held 10.37 per cent of the company’s shares, R. Kvaraciejus held 8.17 per cent, and E. Kvaraciejūtė-Ivanauskienė held 7.65 per cent.

A further 14.8 per cent of the shares were held by the agricultural company “Smilgelė”, the company “Agrolitas Imeks Lesma” – 13.8 per cent, “Union Bancaire Privee” – 11.35 per cent, and Voldemaras Klovas – 6.96 per cent of the shares. The remainder is held by retail investors, each holding less than 5 per cent. 

J. Kvaraciejus was a long-standing shareholder of “Pieno žvaigždės” and also served as chairman of the company’s board; he passed away in February this year.

The company’s head office is in Vilnius, with branches in Mažeikiai, Pasvalys, Kaunas and Panevėžys.