The goal of the transaction is to expand operations in Europe and Scandinavian countries and merge Premier Is with the Food Union group. The Food Union group now comprises RPK and Valmieras Piens in Latvia. Premia in Estonia and Premier Is in Denmark.
"We see a good synergy between Premier Is and our companies in the Baltics. Now we will use all our knowledge in icecream production and marketing to contribute to further development of Premier Is in Denmark and beyond its borders," said Food Union's founder and owner Andrey Beskhmelnitsky.
Premier Is was founded in 1927 and is the leading premium-quality icecream maker in Denmark. Premier Is has a plant in Thisted, North Jutland. The company's sales in 2014-15 fiscal year was 41.8 million euros.
Food Union, comprising two of the largest dairy companies in Latvia -- Rigas Piena Kombinats (RPK) and Valmieras Piens – and Premie Foods in Estonia, is controlled by a group of investors headed by Russian investor Andrey Beskhmelnitsky. Food Union posted 125 million euros in preliminary sales for 2014.