JNG Investments acquires 100% of AS Balt-Hellin
In the course of the transaction, JNG Investments OÜ will acquire a 100% holding in wholesaler AS Balt-Hellin, which is based in Tartu and supplies raw materials to companies involved in food production and processing. The target company will remain an independent company of the group. Acquisition deal requires the permission of the Competition Authority.
According to Kait Liinev, a representative of the JNG Investments Group, they need to grow in the foodservice wholesale sector, as suppliers’ expectations for them in the Baltic market are ambitious. The group has several expansion plans in connection with HORECA products in the Baltics, which have been so far pending due to the smallness of the sales organization in the foodservice segment. Although the period of the Covid-19 virus and the effects of the war have been very difficult for the catering and food industry, the group still believes that the industry will recover in the long run. The employees of Balt-Hellin are catering professionals and the know-how they have accumulated over 30 years is invaluable. Now the group has resources to speed up Baltic foodservice projects.
Balt-Hellin was founded by baker Otto Schütt in Tartu in 1993. As a trading company they offer to approximately 1,700 business customers the raw materials of Western European and international origin that customers need for their work. Well-known and recognized international partners also support customers in product development and evolution. Balt-Hellin’s customers are cafes, restaurants, bakeries and confectioneries, food companies, petrol stations and retail chains in all three Baltic countries. The company’s turnover in the previous financial year was 12.9 million euros.
The best-known companies of the Baltic JNG Investments group, whose main activities are the wholesale of food, consumer goods and lubricants and provision of logistics services, are the Jungent sales and marketing companies and the Via 3L logistics companies.
The consolidated sales revenue of the group was 159.5 million euros in the previous financial year, and to achieve this turnover the group serves more than 7,500 regular business customers. In January 2022 the group had approximately 700 employees and was supplied by more than 60 international companies.