MG grupė

MG grupė, UAB, formerly known as MG Baltic, UAB, is a Lithuanian-based investment company operating in Lithuanian and foreign markets. MG grupė, UAB consists of independent business groups operating in several markets: retail of clothes (Apranga Group), production and retail of fast-moving consumer goods (MV Group), real estate development and construction (Darnu Group), media (Laisvas ir nepriklausomas kanalas, UAB), and IT and telco (Mediafon group). Sole shareholder and President of MG grupė, UAB is Darius Mockus.

MG grupė, UAB
TypePrivate
IndustryHolding company
Founded12 December 2000 (2000-12-12)
HeadquartersVilnius, Lithuania
Area served
  • Lithuania
Key people
Darius Mockus (CEO)
RevenueIncrease €832 million (2022)[1]
Increase €72.2 million
Increase €40.2 million
Number of employees
3800[2]
Websitemggrupe.lt/eng

In 2020, MG grupė managed more than 80 companies. The concern operates in the Baltic states and other foreign markets (Poland and the United Kingdom), provides services in more than 10 countries and exports products made in Lithuania to more than 50 countries around the world. Turnover of the "MG grupė" group in 2020 amounted to 693 million EUR, profit – 30.4 million euros.[3]

Company's CEO and main shareholder Darius Mockus is second richest person in Lithuania with net worth over half billion Euros.[4]

Company's CEO and second wealthiest person in Lithuania Darius Mockus

History

The concern connects the beginning of its activities with 1992. founded by the company "Investicijos fondas".[5]

In 1993 another part of the group of companies was founded - the company "Mineraliniai vandenys". in 1995 it was included in the holding "Minvista", which later changed its name to "MV Baltic".[5]

In 1993 the State clothing trade base was privatized, the company "Apranga" was established. Later, other companies joined it, forming the Ifanta concern.[5]

In 1995 the company "Troja" was established, later incorporated into "MG Valdas".[5]

In 2000 these companies were merged into a group of companies named "MG Baltic".[5]

In 2003 The name of "Ifanta" was changed to "MG Baltic Investment", "MV Baltic" to "MG Baltic Trade", "MG Baltic Investment" was bought by LNK, "Mineraliniai vandenys" to AB Stumbras.[5]

In 2005 the concern sold companies that did not fall into the five sectors in which it was preparing to focus (real estate, retail trade, alcohol production, media, consumer goods production and trade).[5]

In 2006 "MG Baltic Investment" acquired construction company "Mitnija". The concern also founded the "Alfa.lt" media portal.[5]

In 2007 produced by "MG Baltic Media" consisting of "Laisvas ir indezimas kanalas" and "Alfa media", a subsidiary of Len), ("MV Poland" in Latvia ("MV Latvia"), Estonia ("MV Eesti").[5]

In 2014 UAB "Mineraliniai vandenys" acquired the group of companies "Alita".[5]

In 2017 Naujienų centras UAB was sold to Alfa media.[6]

In 2021 UAB Koncernas "MG Baltic" under the name "MG group", UAB.[7]

Controversies

In 2011, before legal entities were banned from supporting political parties, MG Baltic Media (currently MG grupė, UAB) supported several political parties in Lithuania: the Homeland Union 40,000 LTL (€11,600), Freedom and Justice 40,000 LTL (€11,600), the Social Democratic Party of Lithuania 35,000 LTL (€10,100), the Lithuanian Green Party 25,000 LTL (€7,200) and The Union of Liberals and the Center 20,000 LTL (€5,800). In 2018 June 5 2016-2020 The Seimas approved the conclusions of the National Security and Defense Committee, where it was stated that "MG Baltic" is a threat to the state. Later, the concern filed a lawsuit to claim that some of the statements do not violate law and damage company reputation.[5][8]

See also

References
  1. "MG grupė, UAB revenue, profit", www.rekvizitai.vz.lt
  2. "Apie", www.mggrupe.lt
  3. "„MG Baltic" pajamos pernai augo 7,6% iki 693 mln. Eur", www.vz.lt
  4. "Turtingiasių lietuvių TOP 500", www.tv3.lt
  5. "Kas slepiasi po "MG Baltic" vardu? Įdomioji koncerno istorija", www.15min.lt
  6. "Portalo alfa.lt kontrolę perėmė O.Lukošius", www.15min.lt
  7. "Darius Mockus: per penkerius metus Lietuvoje investuosime 500 mln. Eur", www.vz.lt
  8. "Koncernas „MG Baltic" iš NSGK pirmininko Vytauto Bako reikalauja 20 tūkst. eurų", www.delfi.lt
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