Whey Finance

Acquisition of a Latvian firm

On 04/01/2020, AB Vilkyškių Pieninė, which belongs to the Vilvi group, finalized the acquisition of 70% of the eligible stake of SIA Baltic Dairy Board. SIA Baltic Dairy Board is a Latvian firm, specializing within the manufacturing and sale of excessive added worth dairy elements and the separation of milk and whey. In accordance with preliminary and unaudited information, the turnover of SIA Baltic Dairy Board in 2020 was 4.9 million euros, whereas the corporate’s web revenue – 1.47 million euros.

By investing in SIA Baltic Dairy Board, AB Vilkyškių Pieninė goals to strengthen and develop the vary of excessive added worth dairy elements of the group. The brand new firm of the Vilvi group in Latvia is likely one of the few firms in Northern Europe to develop and manufacture merchandise for child meals (merchandise primarily based on galactooligosaccharides). Vilvi Group will use the newly solid synergy between the present group members and the SIA Baltic Dairy Board within the whey separation and uncooked materials sourcing processes.

“ We’ve got been cooperating with SIA Baltic Dairy Board since 2019, buying a whey separation service. The Vilvi group processes the separated whey (drying) within the group’s model new manufacturing unit in Tauragė, which enabled the group of firms to make a agency entry into the dairy elements market as early as final 12 months. SIA Baltic Dairy Board merchandise will complement the group’s ingredient assortment, whereas different operations – will contribute to additional synergy within the group’s frequent processes. These are the explanations behind the choice to spend money on Latvia, permitting the Vilvi Group to ship on its world promise to its companions, clients and shoppers – by delivering distinctive dairy options that ship an inexpensive vitamin and style expertise. stated Gintaras Bertašius, CEO of Vilvi Group.

Extra info will likely be supplied by:

Gintaras Bertašius
Normal supervisor
Phone: +370 441 55330

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