Finnish meat processing firm Atria has said it has taken its first step towards building a strong position in the Lithuanian market with the acquisition of UAB Saltuva.
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Saltuva, which sells products under the Vilniaus Mesos Kombnates banner, has annual sales of around €10m (US$11.3m) and a market share estimated at around 10%.
Atria said no western company to date operates in Lithuania, a country of 3.5 million inhabitants, and no company holds a dominant market position.
Atria is acquiring the outstanding shares in Saltuva for an undisclosed amount. The majority of the shares remain with the present managing director, who Atria said it intends to keep in a management position.
Atria forecast its 2003 revenue will rise to €800m.
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By GlobalData
