JSC BALTU VETERINĀRIJA acquires SIA BIAFARMA
In order to develop its market position and provide even better services to a wider range of customers, Baltu Veterinarija AS acquires BIAFARMA SIA.
Jelgava, 25.10.2022. JSC BALTU VETERINĀRIJA (BALTUVET), one of the highly valued market players in the field of livestock care and veterinary products distribution, has acquired SIA BIAFARMA - an agricultural services company operating since 2000 in the eastern part of Latvia and successfully engaged in the wholesale and delivery of feed, supplementary feed and livestock hygiene products as well as retail sales in its own network of eight stores.
The acquisition transaction was arranged by M&A advisory firm AUCTUS CAPITAL, representing the interests of the Purchaser in the transaction.
"With this transaction, BALTUVET's acquisition of BIAFARMA confirms the company's commitment to providing Latvian farmers with high quality products and unique solutions that they can use to further improve the welfare and productivity of their livestock," says Mārtiņš Bluķis, Member of the Board of AUCTUS CAPITAL.
The acquisition of BIAFARMA is in line with BALTUVET's business strategy to develop its market share by offering Latvian and Baltic farmers livestock care products and feed, vaccines, tools, disinfectants and products for small pets, as well as nail trimming services. By acquiring BIAFARMA, BALTUVET will gain synergies between its expertise and experience and BIAFARMA's customer base and network in the Eastern Region.
"Our goal is to further develop our product portfolio and improve the efficiency of our business processes to become the best partner for our customers across the region," said BALTUVET Managing Director Arnis Leikarts.
"Following the transaction, BALTU VETERINARIJA will have an annual turnover of close to EUR 5 million, which will secure the company a stable position among Latvia's top 5 largest feed and veterinary supply companies. Despite the transaction, the Latvian market will remain fragmented, with a large number of suppliers in the livestock sector compared to the Estonian and Lithuanian markets. Therefore, we expect several more acquisitions in this sector in the next few years, the market will consolidate and the number of players will decrease," comments Mārtiņš Bluķis, Member of the Board of AUCTUS CAPITAL.
About BALTUVET
JSC BALTU VETERINARIJA (BALTUVET), one of the most valuable market players in the field of livestock care and distribution of veterinary products, has been operating since 2013. The company offers livestock care products and nutrition, vaccines, tools, disinfectants and products for small pets, as well as hoof trimming services. The main customer segments are: dairy farms (74,4 % of total turnover), veterinary practitioners, veterinary clinics and pharmacies, distributors and other customers. BaltuVet's suppliers are mainly international producers (88,6 % of turnover). Currently BaltuVet is the exclusive distributor for HL Hamburger (Germany), Olmix (France), Ozolea (Italy), as well as the exclusive distributor in the Baltic States for FinnElox (Finland), Fokker (Netherlands), MilkBar (New Zealand), Tierra Products (Denmark), Vilofoss (x-Zelit) (Denmark) - among others.