Smiltenes Piens has been acquired by a Private investor

Private investor Armands Kovaldins has acquired over 96% of Smiltenes Piens, one of the largest dairy producers in Latvia.

Smiltenes Piens is a dairy company that produces different types of cheese: fresh, semi-hard, melted and smoked cheese. Other products include sour cream, cottage cheese, butter, dairy desserts and an innovative whey protein drink, Piena Spēks. The company holds a significant market share in the Latvian dairy market, as its products are widely recognized by domestic consumers. Smiltenes Piens has shown consistent revenues and margin growth during the last decade.

Armands Kovaldins was backed by the alternative capital fund BPM Mezzanine Fund who provided financing for the transaction.

Oaklins' team in Latvia advised the sellers Gita Mūrniece and Ģirts Strads in this transaction.

Service

M&A sell-side

Parties

“The team at Oaklins was extremely professional, united and had a steady approach to every stressful situation. I am very pleased with the final deal and felt confident during each step of the transaction thanks to their deep industry expertise and dedication to meeting every one of our requirements.”

Gita Mūrniece

Co-owner, Smiltenes Piens

Talk to the deal team

Valērija Lieģe

Partner

Riga, Latvia
Oaklins Baltics

View profile Get in touch

Related deals

Thrive Freeze Dry has successfully sealed the acquisition deal with Paradiesfrucht GmbH

Private Equity | Food & Beverage

Thrive Freeze Dry has successfully sealed the acquisition deal with Paradiesfrucht GmbH

Paradiesfrucht GmbH, a gobal freeze dryer of fruits, fruit preparations, drops, powders and granulates, has been acquired by Thrive Freeze Dry (Thrive), a portfolio company of Entrepreneurial Equity Partners (e2p) and Mubadala Capital. The transaction is expected to close in 2024, subject to customary closing conditions, including antitrust approval.

Learn more

MBO of Norway’s leading service and technology provider for food production

Food & Beverage

MBO of Norway’s leading service and technology provider for food production

Tine and Nortura have sold Skala Gruppen AS to the management team.

Learn more

California Custom Fruits & Flavors has been acquired by Peak Rock Capital

Private Equity | Food & Beverage

California Custom Fruits & Flavors has been acquired by Peak Rock Capital

California Custom Fruits and Flavors (CCFF) has been sold to an affiliate of Peak Rock Capital in partnership with CCFF’s management team and the Hall family, who will remain investors.

Learn more