COBALT advises on sale of AS Karme shares to AS A. Le Coq

The owners of AS Karme (OÜ Konya Haldus and OÜ Rimonne Baltic) have both sold almost half their shares to AS A.Le Coq, which now owns 49% of AS Karme. Both previous owners remain involved with 25.5% of ownership. The price of the transaction will not be disclosed due to a confidentiality agreement between the parties.

A. Le Coq’s CEO Tarmo Noop said that one of the main reasons for the transaction was the need to find suitable conditions and means for producing the apple wine that is used to make ciders and long drinks. “The quantities of beverages produced on the basis of wine, such as ciders and long drinks, have grown considerably in recent years due to export, which means that we need a lot more apple wine,” said Noop. “Wine production has a good outlook and buying the holding gives us access to the equipment and premises of Karksi, where we can start making our own wine,” he added.

One of the owners of Karksi Brewery, Sven Karjahärm, says that A. Le Coq is a strong brewery whose experience is certainly going to support the development of Karksi Brewery. “Our brewery is an important symbol and employer in Viljandi County,” said Karjahärm. “We can proceed with our brewery and beer-making with a lot more confidence now that we have the support of one of the strongest breweries in Estonia. A. Le Coq’s know-how in the development of production processes is also important for us.”

The project legal team included senior partner Sten Luiga and attorney at law Helen Tulve.