AS PRFoods (Nasdaq Tallinn: PRF1T), the Estonian seafood group, confirmed on 10 June 2026 that its subsidiary Saaremere Kala AS has closed the previously announced disposal of its entire 100% stake in fish-processing unit Saare Kala Tootmine OÜ (SKT) to Latvian seafood company Brīvais Vilnis A/S, completing a transaction first disclosed in April.
Under the terms of the deal, Saaremere Kala AS — acting as seller — transferred both the equity interest in SKT and its shareholder-loan receivables, along with claims arising from inventory financing extended to the target, to the Latvian acquirer. The precise aggregate consideration was not disclosed in the closing notice, though the transaction structure involves a deferred component: a promissory-note agreement between the two parties, which took effect upon closing, governs the timing and conditions under which Brīvais Vilnis A/S will settle the outstanding purchase price and the assigned inventory-loan balance.
PRFoods shareholders ratified the transaction at a general meeting whose results were published on 18 May 2026, satisfying the final condition precedent ahead of today's completion. The deal had been structured to require shareholder sign-off given its scale relative to the group, a threshold consistent with Nasdaq Tallinn listing rules governing material asset disposals.
Brīvais Vilnis A/S, headquartered in Latvia with registration number 40003056186, is an established Baltic seafood processor, making the acquisition a regional consolidation play. For PRFoods, the divestiture represents a narrowing of its Estonian production footprint as the company continues to reshape its portfolio amid margin pressure across the broader Baltic seafood sector.
The closing adds to a series of asset realignments across Nordic and Baltic fish-processing supply chains in recent quarters, as producers contend with volatile raw-material costs, energy inflation, and shifting retail demand patterns in key export markets. PRFoods has not issued updated earnings guidance in connection with the disposal, and no gain or loss on sale figure was provided in the exchange filing.
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