Food Union buys Premia Foods’ ice cream business for €27m
Latvia-based Food Union has agreed to buy the ice cream and frozen foods business of Estonia’s Premia Foods in a deal worth €27.1m, the company said on Monday.
“It is very strong and valuable brand in the Baltic region, and we will continue to develop it,” Food Union owner Andrei Beshmelnitsky said in a statement. “Premia Foods will bring new opportunities for continuous innovation and development of our broad and diverse product portfolio of ice cream.
"… Our goal is to raise a whole new level of production and consumption of ice cream in the Baltic region.”
The deal must now be agreed by Premia Foods shareholders at a meeting in three weeks’ time.
