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Alongside the energy, maritime transport, and real estate sectors, Infortar enters the agriculture sector for the first time by acquiring a majority stake in one of Estonia's largest dairy companies in Halinga, Pärnumaa.
"Estonia's latitude is suitable for dairy production, and Estonian dairy farms are regionally competitive. Halinga, with its three farms and more than 3,700 hectares of arable land, is one of the largest and most modern," noted Infortar's Managing Director, Martti Talgre.
"Investments in agriculture fit into Infortar's portfolio – a capital-intensive field with high entry barriers. We are interested in investing and have plans, but we can comment on this transaction and plans more precisely after the approval from the Competition Authority and the transaction's finalization," Talgre remarked.
According to Halinga's manager, Raul Peetson, we live in a place where people have been able to sustain themselves since the beginning of time. "Today's dairy production and farming are based on the experiences of those who came before us. This experience tells us that the greatest value we must preserve when producing food is our land. This knowledge and adherence to it have allowed our Halinga dairy production to rise to the top in Europe and manage so that we can produce food for ourselves and have surplus for others," said Peetson.
"At Halinga, we believe that large-scale production is not just about the tons of milk but maximizing environmental protection and the welfare of our day-to-day heroes – the cows – as well as the satisfaction and future security of our people. Development in farming never ends, and we see that we must move forward. Forward towards a cleaner environment, towards an even smarter and more eco-friendly production model. Forward to even greater heights in Europe - in the world. And we do this so that in addition to wisdom, we can also pass on a clean and better environment for the future. To maintain production, but primarily to sustain and develop life in the countryside," Peetson elaborated.
An Infortar subsidiary has signed an investment agreement and shareholders' agreement to acquire a 51% stake in OÜ Halinga. The completion of the transaction is conditional upon obtaining the necessary approvals from the Competition Authority and carrying out additional actions. Among other things, the final price of the transaction depends on parameters that need further clarification and will be determined on the completion date of the transaction.
OÜ Halinga is one of Estonia's largest dairy producers and a significant regional employer, with over 70 people employed. Halinga's dairy herd and young stock number over 3,000, and it cultivates 3,700 hectares of land. After the transaction is finalized, OÜ Halinga will continue its operations as a member of the Infortar group.
