PRFoods is selling its Saaremaa-based Saare Kala Tootmine to Latvia’s Brīvais Vilnis A/S, marking the exit of the listed Estonian food producer from local manufacturing.
Its subsidiary Saaremere Kala AS will transfer its 100 percent stake in Saare Kala Tootmine, one of the Baltics’ largest fish processors, to Brīvais Vilnis.
The sale follows PRFoods’ April debt restructuring plan, which required divesting key assets to distribute proceeds to creditors. Shareholder approval is needed to finalize the deal.
PRFoods board member Timo Pärn confirmed the company will no longer have production units in Estonia after the sale.
“Of course it’s challenging in a volatile economic environment, and we are seeing positive progress,” Pärn said. PRFoods, he added, remains focused on serving shareholders’ interests.
Read more: ERR.EE
