„Vikonda grupė“ will be able to acquire 100% of the shares of „Agroverslas“ and indirectly, through the latter, 99.7% of the votes of the Panevėžys district Liberiškis Agricultural Company and take sole control of both companies. The transaction was cleared by the Competition Council.

The notification of intended concentration was received on 31 May 2024. Having assessed the circumstances surrounding the transaction, the Competition Council has concluded that the proposed concentration will not lead to the creation or strengthening of a dominant position or significantly impede competition in the relevant markets.

The companies related to the „Vikondos group“, which is active in corporate governance, produce and market ice cream and cheeses, various canned products, as well as grow, dry, store and wholesale vegetables and legumes and oilseeds. Other enterprises in the group provide catering, security, accounting, real estate rental and other services, and retail sale of daily consumer goods in non-specialised stores.

Agroverslu“ affiliated agricultural company Liberiškis Agricultural Company of Panevėžys district produces and sells raw cow's milk, sells livestock not used in dairy production, and grows and sells crops.

The proposed concentration must be notified to the Council for Competition and cleared if the undertakings concerned have a combined total turnover in the last year preceding the concentration of more than EUR 20 million and if the undertakings involved in the concentration have a combined total turnover in the last year preceding the concentration of at least one of the two undertakings concerned of more than EUR 2 million each.