COBALT advised Premia on the sale of its ice-cream and frozen goods business to Food Union for 27.1 million euros

COBALT advised AS Premia Foods in the sale of its ice-cream and frozen goods business in the Baltics and Russia to Food Union group, which unites the largest dairy companies in the Balitcs – Rigas Piena Kombinats and Valmieras Piens. The ultimate beneficial owner of Food Union is Andrey Beskhmelnitskiy who is a food industry entrepreneur with global scope. Premia Foods is one of the biggest ice-cream producers in the Baltics and is listed on NASDAQ OMX Tallinn Stock Exchange. After the completion of the transaction, Premia Foods will continue its fish business operations. The value of the transaction is 27,109,000 EUR.

COBALT was involved in the entire sales process and advised in negotiating the transactions documents. COBALT team consisited of partner Martin Simovart and associate Karl Kull.

More information is available here.