AS PRFoods, the Tallinn-listed Baltic seafood producer, has completed the sale of its entire 100% stake in Estonian processing unit Saare Kala Tootmine OÜ (SKT) to Latvian seafood company Brīvais Vilnis A/S, closing a divestiture first announced in April 2026.
The transaction, executed through PRFoods subsidiary Saaremere Kala AS acting as seller, also involved the transfer of claims arising from shareholder loans and an inventory loan that had been extended to SKT. Financial terms of the deal were not disclosed in the completion notice, though a vendor note agreement between Saaremere Kala AS and Brīvais Vilnis A/S has now entered into force, governing the outstanding purchase price and inventory loan transfer payments owed by the buyer to the seller.
PRFoods shareholders formally approved the transaction at a general meeting on 18 May 2026, satisfying a key condition precedent to closing. The original deal announcement was published to the Nasdaq Tallinn exchange on 23 April 2026. The completion marks a structural consolidation of PRFoods' asset base as the group navigates a challenging operating environment across Baltic food manufacturing, a sector facing persistent input-cost pressure and shifting consumer demand patterns explored in recent coverage of European F&B supply chains.
Brīvais Vilnis A/S, registered in Latvia, is an established Baltic seafood processor, and the acquisition of SKT extends its production footprint into Estonia. For PRFoods, the divestiture follows a broader strategic review of non-core or sub-scale processing assets — a trend evident across mid-tier Baltic and Nordic food producers seeking to sharpen operational focus, as tracked in F&B Industry News analysis of Baltic sector consolidation. Powered by Food & Beverage Magazine, the F&B Network continues to monitor asset disposals across the region.
No revised earnings guidance or updated revenue outlook was provided in connection with the closing announcement. The vendor note structure suggests deferred cash proceeds, meaning the full financial impact on PRFoods' balance sheet will depend on the payment schedule and terms embedded in the agreement, details of which have not been made public.
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