The largest Baltic šalian agri-food group „Akola group“ (formerly „Linas Agro Group“) is investing EUR 1.9 million in the soft drinks start-up „OMG Bubble Tea“ – it will acquire a minority stake and a seat on the board of directors.

On 14 March, the companies signed an agreement to this effect, according to „Akola group“.

„Akola group“ CFO Mažvydas šileika says that „OMG Bubble Tea“ is a growing startup that has increased production and revenue several fold over the years, and the company expects to grow at times during 2024 and 2025.

„The global bubble tea market itself, which will reach US$3 billion in 2022, is expected to reach US$1 billion by 2022. With the global market worth USD 2 billion expected to grow by 6.3% annually until 2032, and the European market expected to grow by 8% annually, experts believe the startup's prospects are promising,“ “ said M. Šileika, who will also serve on the company's board of directors. 

The investment will allow the start-up to expand at an even greater pace, he said. 

„Our business strategy is to increase the weight of food products in the Group's overall operations, thereby increasing the Group's overall profitability and value. We are not only investing in increasing production capacity – we are also investing in small growing producers. This is certainly not our last investment in beverage start-ups“, – says M. Šileika.

According to Jonas Karos, director of „OMG Bubble Tea“, the company has managed to build a very strong team, secure the supply of raw materials and a good position in some of the retail chains abroad. 

„Global trends show an increase in demand, and we want to take advantage of this and expand our volumes. (...) We have been growing at a very fast pace since the company was founded. The Akola group investment will allow us to increase this pace even more," says Mr Karosas.

„OMG Bubble Tea“ is a natural bubble tea producer established in 2022, exporting about 95% of its production to France, Germany, Great Britain, Austria and other countries. The company has 143 employees and is based in Panevėžys.  

This is the second investment by „ Akola group“ in start-ups. A few years ago, the group invested in „Geoface“, a startup that developed an išmanaus farming app, and later acquired a full stake in it.