The transaction is expected to be completed at the beginning of 2024, subject to permission from the Competition Council of Lithuania. Galinta Group will be the 9th portfolio investment for the INVL Baltic Sea Growth Fund.
Deimantė Korsakaitė, Managing Partner of INVL Baltic Sea Growth Fund, commented:
"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. <...> 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."
The legal advisors of INVL Baltic Sea Growth Fund were TGS Baltic and its financial advisors were EY. Galinta was advised by integrated business services group Lewben.
More information https://bit.ly/3GdNBmH
