Baltic Dairy Board agrees on cooperation with new financing partner
Citadele Bank has granted a 4.5 million euro loan to Baltic Dairy Board, one of the largest dairy / whey protein plants in Northern Europe and part of Vilvi Group.
The transaction in Latvia was managed by partner Inita Jurka. Marta Cera, senior associate and co-head of finance & tax practice was assisting with the financing package.
In April 2021 AB Vilkyškių Pieninė, which belongs to Vilvi Group, completed a procurement of 70% of the qualifying holding of SIA Baltic Dairy Board. Ellex team in Latvia and Lithuania advised Vilvi Group on the acquisition. Read more about this deal here.
Baltic Dairy Board is a Latvian company based in Bauska, specialising in producing and selling high value-added dairy ingredients, and milk and whey separation.
Vilvi Group is a TOP 5 dairy processor in Lithuania and has the newly built most modern whey processing plant in Northern Europe with a fully automated processing process. As a result, the Group can offer consumers the highest quality whey products.