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Private equity firm INVL Baltic Sea Growth Fund has signed an agreement to acquire the entire shareholding of Galinta Group. Galinta is said to be one of the largest suppliers of buckwheat in Europe, as well as a key player in the production and trading of flakes, rice and other groats in the Baltic region. Last year, Galinta achieved approximately €38.5 million in revenue. The production capacity for buckwheat reached a monthly output of 1,000-1,500 tons, while packaging operations amounted to around 8 million units per month. Currently, Galinta has a workforce of over 100 individuals in Lithuania. Deimantė Korsakaitė, managing partner of INVL Baltic Sea Growth Fund, added: “We believe that the plant-based food sector has strong potential for growth, and Lithuania demonstrates a competitive advantage in the field of food processing, especially in the grain segment. Therefore, it has represented one of the strategic sectors we have looked at for potential investment since the fund’s establishment She continued: "...The business has the potential for rapid growth by both increasing volumes in existing markets and expanding into the new ones as well as the launch of new product segments.” “We strive to grow regional leaders and provide consumers with high-quality and healthy food at affordable prices; thus, we are actively working with other acquisitions in this area as economies of scale and possible synergies are the essential condition for ensuring business competitiveness internationally, modern and efficient production, and the development and introduction of new products into the markets.” “Sustainability is gaining more and more leverage in society today. Therefore, post-acquisition, we will not only target product development but also strengthen sustainability-related initiatives in the company’s day-to-day activities. We strongly believe that incorporating sustainability initiatives into the business model encourages management to follow a path of innovation and adopt sustainable yet effective business solutions.” Terms of the transaction, which is expected to be completed at the beginning of 2024, have not been disclosed.