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Lithuanian Private Equity and Venture Capital Association

BaltCap acquires leading Lithuanian meat processing companies Krekenavos Agrofirma and Mėsa LT

BaltCap Private Equity Fund III (BPEF III) has completed the acquisition of the largest Lithuanian meat processing companies Krekenavos Agrofirma and Mėsa LT. 

BPEF III has financed acquisition of Krekenavos Agrofirma through Mesa LT and become majority owner of the joint company. Linas Grikšas, CEO at Krekenavos Agrofirma participated in the transaction by acquiring minority stakeThe transaction has been cleared by the Competition Council in March this year. This is the first investment by EUR 126 million BPEF III fund which has been established by BaltCap in 2019.

"This is a classical BaltCap deal fully in line with the fund’s “buy-and-build” strategy. We are investing in a sector with a great potential for consolidation and a company with the ability to grow into a regional champion,” said Šarūnas Alekna, partner at BPEF III fund. “We’re partnering with a professional management team which has demonstrated ability to sustain business integrity and adapt to changing environment even in the face of global crisis. The deal has been closed despite the COVID-19 related lockdown and I believe it transmits positive message to the whole market that life does not cease,” Alekna added.

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