Leading Lithuanian flour production company Malsena Plius acquired leading Latvian company in the field Rīgas Dzirnavnieks. Completed transaction will make Malsena the largest flour producer in the Baltics.
Acquisition is expected to increase annual revenue of Malsena to almost 70 million euro. Until now, Rīgas Dzirnavnieks was owned by the Swedish corporation Lantmännen.
“This acquisition will strengthen our positions in the market. We will offer broader selection of high value added products and hope to become a successful exporter in international markets”, says Gintautas Migonis, CEO of Malsena.
Rīgas Dzirnavnieks was a part of Lantmännen which is one of the largest groups in food, energy and agriculture sector in Northern Europe. Lantmännen operates in 22 countries with a turnover of almost SEK 37 billion (4.4 billion euro).
“We decided to sell our mill in Riga because we want to focus on our markets in Scandinavia. I’m happy that we’ve found a buyer who is well-established in this sector that can move the business forward,” says Carsten L Thomsen, MD of Lantmännen Cerealia.
Porta Finance advised Malsena in this acquisition.
Malsena is one of the largest and most modern grain processing industrial groups in the Baltics. Company produces a wide range of products including wheat and rye flour, flour mixes and wheat germ. Malsena is owned by Amber Trust, a private equity fund dedicated to the Baltic States.
CEO, Malsena Plius
Tel: +370 687 40256
Partner, Porta Finance
Tel: +370 5 205 3123