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International Internet Magazine. Baltic States news & analytics Tuesday, 19.03.2024, 10:09

Management, producers, foreign partner buying Lithuanian plant from Hochdorf

BC, Vilnius, 20.06.2018.Print version
Hochdorf Baltic Milk, a loss-making Lithuanian producer of milk protein, has been acquired from its Swiss owner Hochdorf Group by the company's management and several Lithuanian milk producers, and an undisclosed foreign investor is set to join in later, informs LETA/BNS.

Hochdorf Baltic Milk CEO Audrius Jukna says the foreign investor is the company's long-standing partner, without disclosing its name.


"This process has not been finished, therefore, I cannot say but it's a legal entity our company knows, it's our long-standing partner, we have long-standing ties," he told BNS Lithuania. "The whole process will take place in several stages. We now have an investor group involving the company's management and major mil producers, suppliers. The next stage will involve the foreign investor which is interested, it’s a partner."


According to Jukna, decisions are still due on how many and which milk producers will be invited to join the company's management. The Lithuanian enterprise does not plan any major expansion any time soon, he said.


Hochdorf Baltic Milk produces milk protein and protein concentrate and exports its major part of produce to Asian countries, North America and Europe.


Hochdorf Group, one of the largest Swiss food producers, which has operated in Lithuania since 2010, announced earlier its decision to exit the Baltic country by selling Hochdorf Baltic Milk to an investment group, without revealing the transaction's value.






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