TGS Baltic has advised the INVL Baltic Sea Growth Fund on the agreement to fully acquire the Galinta Group. Lewben advised Galinta.
Closing is expected in early 2024, pending regulatory approval.
According to the firm, the Galinta Group is one of the largest producers of buckwheat in Europe and one of the leading producers and traders of flakes, rice, and other groats in the Baltic region.
The INVL Baltic Sea Growth Fund is a private equity fund operating in the Baltics. Galinta is the ninth portfolio investment for the INVL Baltic Sea Growth Fund.
"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," INVL Baltic Sea Growth Fund Managing Partner Deimante Korsakaite commented. "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."
The TGS Baltic team included Lithuania-based Partner Dalia Tamasauskaite-Ziliene and Senior Associates Indre Vickaite-Liatuke, Jonas Salna, Simas Paukstys, and Vytautas Bradauskas; and Latvia-based Senior Associate Mara Stabulniece and Associate Eliza Silina.