Porta Finance advised NDX, a Lithuanian investment group with holdings in FMCG NDXproduction, on acquisition of a cat and dog food producer Lantmännen Doggy from Lantmännen in Sweden.
Porta Finance advised the acquirer on the initial approach of the seller, assisted with due diligence coordination and target valuation. “This transaction is another example of our international relationships in the region that we made useful for NDX”, said Julijus Grigaliūnas, Porta Finance partner.
“Doggy is a strategic acquisition that complements our other investments in the pet food industry. We see the company’s brand portfolio and the Swedish heritage behind it as a fantastic opportunity for growth in the Nordic countries and internationally. Through the acquisition we add an entrepreneurial-based company with skilled employees and a state-of-the-art production facility to our current portfolio. Doggy is to be assigned a leading role for all pet food brands currently managed by NDX Group,” says Petras Jašinskas, CEO at NDX.
NDX is a Lithuanian investment firm, with operations in Central and Eastern Europe. NDX owns several FMCG production companies, including the pet food manufacturer Mispol with production facilities in Poland and the Czech Republic. NDX is a part of a larger group, which has divisions and operations across 15 European countries, including Maxima Grupė, the largest retail chain in the Baltics. Total net turnover of companies controlled by NDX exceeded EUR 72 million in year 2014.
Lantmännen Doggy was founded in 1903 and is the largest cat and dog food producer in Sweden with well-known brands such as Doggy, Mjau and Bozita. In 2014 Lantmännen Doggy had net sales of SEK 564 million, of which about 40 percent was generated through export, and employed around 170 people. The company is headquartered in Vårgårda, Sweden.
Partner, Porta Finance
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