Estonian confectionery group Kalev is to lease buildings and installations from Paide Dairy at a total cost of EeK45m (US$2.8m).
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Kalev will pay EeK5m upfront and the remaining EeK40m in the shape of rent over the next six years. The company plans to use the acquired buildings and facilities to produce powder milk-based raw materials for use in its confectionery products. It will also store bulky raw materials in the extra space acquired through the deal.
Kalev is reported by the Baltic Business Daily to be considering launching new confectionery products and packaging sugar.
