EU – Baltic States, Lithuania, Markets and Companies, Mergers and take-overs

International Internet Magazine. Baltic States news & analytics Saturday, 08.08.2020, 09:54

Lithuania's NDX Group sells Swedish dog food producer Doggy

BC, Vilnius, 03.07.2020.Print version
NDX Group, an investment company indirectly controlled by Lithuanian businessman Nerijus Numa, signed a contract on June 30 on the sale of its stake in Swedish dog food producer Doggy it bought in 2015, reported LETA/BNS.

NDX Group said on Friday Doggy was sold to Hungarian pet food producer Partner in Pet Food for an undisclosed amount.

"The shares are being sold, and another pet food producer is buying them. (…) The deal value is not disclosed right now under the mutual agreement of the parties involved," Andrejus Boicovas, CFO at NDX Group, told.

He refused to comment on media reports that the deal was valued at around 100 mln euros.

The funds received after the deal is closed will be invested in Central and Eastern Europe and Scandinavia, he said.

NDX Group posted 139.638 mln euros in consolidated revenue last year, up 6.9% from 2018. The group includes companies in Lithuania, Latvia, Poland, Slovakia, Belarus, Sweden, Germany, the Netherlands and the Czech Republic.

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