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Food Union receives Baltic M&A and Private Equity Award

PAG Capital and Meridian Capital Management investment in the Food Union Group was named the Baltic Private Equity/Venture Capital Deal of the Year 2017.

As part of the investment deal, PAG Capital (Hong Kong) invested EUR 161.6 million and Meridian Capital (Russia) invested EUR 52.4 million in Food Union. The transaction will enable Food Union to expand and build a strong dairy products business in China. The EUR 214 million deal is one of the largest private equity and venture capital investments from Asia, which will enable the Baltic companies to consolidate their exports to Asia.

The key transactions in 2017 were assessed by an independent awards committee representing all three Baltic countries:

  • Jūratė Aželionytė, European Investment Fund
  • Kristiina Koort, Estonian Private Equity & Venture Capital Association
  • Prof. Enn Listra, School of Business and Governance, Tallinn University of Technology
  • Jūratė Majauskienė, Association of Financial Analysts (Lithuania), Summa Advisers
  • Jānis Janevics, Imprimatur Capital
  • The Baltic M&A and Private Equity Forum was organized by Sorainen in cooperation with the leading daily newspapers in the three Baltic countries: Verslo Žinios (Lithuania), Dienas Bizness (Latvia) and Äripäev (Estonia).

About Food Union

Food Union is the largest dairy company in Latvia and the leading ice cream producer in the Baltic countries. The Food Union Group is made up of three largest dairy companies and ice cream makers in Latvia – Rīgas piena kombināts, Valmieras piens, and Rīgas piensaimnieks, Estonia’s largest ice cream maker Premia, the leading Danish ice cream producer Premier Is, Norway’s ice cream company Isbjørn Is, Romanian ice cream maker Alpin57Lux, and ice cream company Ingman Ice Cream in Belarus.

Food Union Group’s total turnover in 2016 amounted to EUR 247 million and EBITDA to EUR 31.5 million. The Group employs over 2,500 people in total, of which more than 1,200 work at the Group’s companies in the Baltic countries.

For more information:
Linda Mežgaile
Food Union Public Relations Manager
linda.mezgaile@mmacomms.lv
T: +371 29772050

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