Falber Investments to Acquire Latvia's Largest Dairy Processing Company
The Estonian company Falber Investments OÜ has signed an agreement to acquire the AS Rīgas piena kombināts group—Latvia’s largest dairy processing company. Falber Investments is the parent company of the Estonian agricultural group Agrone. Rīgas piena kombināts, in particular, manufactures products under the Karūms brand.
Agrone is Estonia’s largest agricultural group and the region’s largest independent producer of raw milk. The parties have agreed not to disclose the value of the deal, according to ERR News.
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Agrone CEO Raul Jeets stated that the companies have complementary knowledge and experience. According to him, Agrone has been developing innovative agriculture, focusing on environmental performance, animal welfare, and the production of high-quality raw milk. At the same time, Rīgas piena kombināts has capabilities in milk processing, product development, brand development, and consumer engagement.
Until the deal is finalized, the companies will operate as separate and independent businesses. The signing of the agreement does not entail any immediate changes to Rīgas piena kombināts’ day-to-day operations: production and collaboration with employees, customers, milk suppliers, and other partners will continue as usual. The company will announce its next steps after receiving the necessary regulatory approvals.
