One of the largest organic food producers in the Baltic States, Auga Group, has sold Baltic Champs, which operates a mushroom cultivation and trading business, to Global Champs, a company owned by the Mhitardjan family from Latvia. The sale of Baltic Champs shares marks the implementation of the first of the four key actions included in the court-approved Auga Group restructuring plan.
“Our goal is to support the company’s further development by gradually introducing modern production technologies, improving processes, and strengthening operational efficiency. (…) We will aim to increase competitiveness and expand production capacity,” the company’s new owner, Global Champs CEO Vladimir Mhitarjan, said in the announcement.
With this transaction, the group is entering a new segment that naturally complements its agribusiness and food production operations. In addition, the group cooperates with major retail chains across all EU markets, while Baltic Champs has secured strong positions in the Nordic and Baltic regions.
AUGA Group was represented in the sale by TEGOS lawyers – Aurimas Pauliukevičius, Rūta Tikuišytė, Lina Darulienė, Jonas Šalna, Simas Paukštys, Elena Mickevičienė, and Elīza Siliņa.
