Galinta, a company headquartered in Lithuania that provides packaged oats, wheat, and rice throughout the Baltic region, is poised for a sale.
The corporation has accepted a takeover proposal from the private equity firm INVL Baltic Sea Growth Fund.
The specific financial details have not been revealed.
Galinta, with a staff of more than 100 employees, sells a range of essential products under its own brand at retailers including Rimi.
The company, possessing a buckwheat processing facility and two grain elevators as part of its assets, additionally provides private-label manufacturing services to retailers and wholesalers.
In a statement announcing the transaction, Galinta Group owner Marijus Mazuch said, “Galinta Group has been successfully operating in the market for more than two decades and holds a significant position for the production of groats and flakes as well as commercial activities across the Baltics and Europe more broadly. I strongly believe this transfer to professional investors will now allow the group to continue growing and further strengthen its already impressive market.”
The announcement provided information on Galinta Group’s 2022 revenues, noting an approximate amount of €38.5 million ($42.1 million) without offering a comparative figure.
Deimantė Korsakaitė, managing partner of INVL Baltic Sea Growth Fund, said, “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.”
The transaction is anticipated to be finalized early next year, pending approval from competition authorities in Lithuania.
Korsakaitė 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.”
Galinta represents the ninth investment for INVL Baltic Sea Growth Fund, which has previously supported enterprises across various sectors such as healthcare, engineering, and waste management.
With the European Investment Fund (EIF) as its primary investor, the fund concentrates on the Baltic states, Poland, Scandinavia, and central European markets.
