Sustainable Investments SIA has sold its 17.09% stake in Nasdaq First North listed Madara Cosmetics to Transmeri Group for €5.3 million (€8.30 per share). The transaction price represents a 33% premium to the price in IPO that took place a year ago, and a 11% premium to the volume-weighted average price in 2018 prior to the transaction.
Porta Finance advised Sustainable Investments on valuation and tactics in relation to the sale of a significant minority stake and supported it in negotiations with Transmeri Group, helping to achieve valuation at a premium to the market price.
Madara Cosmetics is the leading producer of organic skincare cosmetics in Latvia, founded in 2006. MADARA brand is the local pioneer in the field of natural cosmetics. Each product is exclusively developed and manufactured in Madara Cosmetics’ own laboratories and production facilities, enabling to take 100% control over all processes. Organic ECOCERT certification, GMP and ISO standards, in vitro and in vivo researches emphasize Madara Cosmetics’ passion for quality and perfection in every detail. The company exports its own brand products worldwide as well as offers contract manufacturing services.
Transmeri group is a family-owned Finnish company, founded in 1928. The group is engaged in import and distribution of daily consumer goods and selective cosmetics in Finland and the Baltics. Following this transaction, Transmeri Group has increased its holding in Madara Cosmetics to 23.09%.
Partner, Porta Finance
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