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International Internet Magazine. Baltic States news & analytics Monday, 11.12.2023, 04:19

Lithuania's AUGA Group continues expansion in US, Canada

BC, Vilnius, 09.11.2020.Print version
AUGA Group, one of the leading agricultural investment companies in the Baltic states, continues expanding its business in the United States and Canada, with the company's representative saying that North America has become a key export destination for the company's products, informs LETA/BNS.

"From now on, AUGA’s organic products will also be sold by the well-known retail chains Stop & Shop in the United States, and Metro in Canada. AUGA group’s cooperation with the international food retail giant Costco was also extended," the group said.

"Although we entered North America two years ago, the biggest phase of expansion is taking place right now, that is why the region has become a major export destination for our end-consumer products (FMCG)," Laurynas Miskinis, head of organic product development and commerce, said in a statement.

Last year, exports accounted for around 70 percent of the company's revenue. AUGA exports to over 30 countries, with Japan, the US, Canada, the UAE and the EU being its key markets.

AUGA incurred a loss of 1.394 million euros last year, compared to a net profit of 3.49 million euros in 2018. And its revenue rose 2.2 percent to 3.378 million euros.

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