News

2022.05.18

Viciunai Group's advisers have compiled a long list of potential buyers for its business in Russia, including over 30 companies

Viciunai Group's advisers have compiled a long list of potential buyers for its business in Russia, including over 30 companies

The multi-stage process is expected to be completed, and the purchase and sale agreement signed, in approximately two months. 

“The number of candidates should not be surprising – most of the market players are well aware that this business is being sold urgently, so there is a unique opportunity to acquire a well-organised business that has been successfully developed for 20 years. Such competition allows us to hope that the process will be successful and Viciunai Group will completely withdraw from the Russian market,” said D. Matijosaitis, Member of the Board of Viciunai Group.

According to him, companies from China, Thailand, Russia, Vietnam, India, South Korea and several Middle Eastern countries have expressed an interest. There have also been several offers from Europe. Many food processors want to buy the factory; while there are also representatives of large retail chains.

“Traditionally, the most interested parties for these sales come from the so-called ‘coastal countries’,” said D. Matijosaitis. “After all, our production is closely related to the supply of fish products. However, there are companies not directly involved in fishing who would also like to buy this factory. These are meat and dairy processors who want to improve their product range. There are large retail chains looking to acquire suppliers, and private equity funds are interested in this business as they see it as a good opportunity to acquire an easily realisable value. The food industry is currently in high demand due to its market stability.”

Currently, Viciunai Group's business sales consultants in Russia are communicating intensively with all potential buyers, providing them with financial and legal information related to the company’s activities. Non-disclosure agreements are being signed, after which the candidates will have access to the relevant details and, after analysing them, will submit non-binding offers. A list of buyers with the most serious intentions will then be drawn up, followed by negotiations with the selected candidates and the conclusion of the final transaction.

“We are sure that we will be one of the first producers to actually leave the Russian market,” said D. Matijosaitis with certainty. "We will be the one to not only announce our intentions and initiate the exit process, but will actually leave Russia and completely terminate all business relations with the country. The sales process usually takes about a year, so we are glad that we started it a long time ago and are moving towards the final stages."

In recognition of the importance of publicising this process, Viciunai Group will continue to inform the public about the sale of its Russian business.