Financial Services, Foodstuff, Funds, Good for Business, Markets and Companies, Mergers and take-overs

Commenting on the deal, Mr. Armands Kovaldins noted that the buy-out of Smiltenes Piens was a logical step for all parties involved. We respect and value very highly the contribution of Gita Murniece and Girts Strads (the exiting shareholders), who developed Smiltenes Piens over decades and turned it into a modern dairy with high quality products and strong brands. This forms a strong foundation to grow the business further and we believe that together with the existing management team we are able to achieve this. 

“It is an excellent opportunity for us to back the buy-out of such prominent company with strong brands, top-quality products and high reputation. We believe Mr. Kovaldins together with the management team can develop the Company further and the products of Smiltenes Piens can also be well received in the export markets. We also consider the dairy industry to be attractive with its countercyclical characteristics. The investment is an awaited addition to BPM’s portfolio due to its stable nature in combination with growth potential,” said Martin Reinson, Partner of BPM Capital.