Estonia’s leading agricultural group, Agrone, has completed the acquisition of 100% of shares in Latvia’s largest dairy group, Food Union Management, LSM reports. Agrone acquired the shares from Food Union Luxembourg Holdings II for an undisclosed price. The Food Union group includes Rigas Piena Kombinats and Valmieras Piens, which produce some of Latvia’s best-known fresh dairy products. Agrone CEO Raul Jeets noted that the acquisition would expand Agrone’s operations from raw milk production into dairy processing. Agrone has three dairy farms in Estonia, producing around 70,000 tonnes of raw milk per year. Earlier, Valters Zelčs, agricultural policy adviser at the Latvian Farmers’ Parliament (ZSA), said that Latvian farmers hoped that Agrone’s acquisition of Food Union would raise milk purchase prices, ERR reported. Jeets said that Agrone planned to expand its exports beyond the Baltic region.
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