Estonia, Foodstuff, Legislation, Lithuania, Markets and Companies, Mergers and take-overs

International Internet Magazine. Baltic States news & analytics Thursday, 25.04.2024, 01:04

Lithuanian Malsena buys Veski-Mati grain product manufacturer

BC, Tallinn, 31.10.2014.Print version
Baltic States' largest grain producer Malsena buys Balti Veski, an Estonian company that produces cereal and other grain products using the Veski-Mati brand, LETA/Äripäev.ee reports.

This is Malsena's second acquisition in the Baltic countries after acquiring Latvia's Rigas Dzirnavnieks last year.

 

The transaction has to be approved by the Competition Board.

 

Malsena's Executive Director Gintautas Migonis said the group is trying to ensure quality of products of Balti Veski in the future too. Therefore operations continue as before, and Veski-Mati trademark will be preserved.

 

So far, Balti Veski belonged to Helsingin Mylly – an important Finnish grain producer, which belongs to the Puhk family. Helsingin Mylly council chairwoman Maret Puhk said that the decision to sell Balti Veski is part of Helsingin Mylly's long-term strategy.

 

Malsena belongs to Baltic region private equity fund Amber Trust.

 

Balti Veski's last year's sales reached 3.24 million euros. The company earned a profit of 180,631 euros.





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