Atria is to boost its growth in Estonia by acquiring meat processing companies AS Woro Kommerts and AS Vastse-Kuuste Lihatööstus. The deal covers 97.7% of the AS Woro Kommerts stock.
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“The companies are well-known manufacturers of a variety of high-quality meat products and consumer-packed meat. Through these acquisitions, Atria will complete and expand its current product range for retail customers in Estonia,” a statement from the Finnish food group said.
Established in 1993, AS Woro Kommerts is a company specialising in the production of meat products. The company’s total market share in terms of value is 13% (source: AC Nielsen 2008), which makes it Estonia’s second largest meat processing company.
In 2007, it posted net sales of EUR 9.9m and employed some 170 staff. The company has a production plant in Ahja, near Tartu and a distribution centre in Tartu.
AS Vastse-Kuuste Lihatööstus manufactures a range of cold cuts, sausages, dried sausages and consumer-packed meat. The company has its own slaughterhouse and cutting plant.
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By GlobalDataFounded in 1994, Vastse-Kuuste reported net sales of EUR 8.8m in 2007. Its total market share in terms of value is 6% (source: AC Nielsen 2008), and it employs approximately 140 people. The company has a particularly strong position in cold cuts in the Estonian market. The production plant is located in southern Estonia, in Vastse-Kuuste.
Atria said the closing of the deal is subject to the approval of the Estonian competition authorities. This is anticipated to take place by the end of July.
Atria said it estimates that the process of consolidating the new companies will begin on 1 August 2008. The parties said they had agreed not to make the purchase price public.
