The company announced via the Nasdaq Vilniyus stock exchange it had signed a contract with Costco, one of the world's largest retailers and will supply organic soups, which will be Auga Group's largest foreign order for canned products. The company did no reveal the deal's value or volume.
"Negotiations have lasted less than a year. (…) We have signed a regular supply agreement and are executing the first order. We will see the real annual sales volume after receiving further orders", - says Laurynas Miskinis, head of Organic Products R&D and Commerce at Auga Group.
Auga sells around 80% of its products abroad now.
Costco has more than 700 stores worldwide, of which nearly 100 are located in Canada.
Baltic Champs, controlled by Kestutis Juscius, owns 88.13% of Auga Group, and 5.83% belong to Multi Asset Selection Fund.
