Infortar's stock exchange notice did not disclose the transaction price and the parties are unlikely to make it public. Finalizing the change of ownership still requires approval from the Competition Authority and additional procedures. Swedbank is helping finance the purchase.

According to Jaanus Marrandi, a member of the management board of Estonia Farmid, the company has grown into one of Estonia's strongest agricultural enterprises. "However, ensuring further growth requires investments and risks at a scale the current owners no longer consider feasible. We are now in a situation where the next steps should be taken by a new, ambitious owner," Marrandi said.

"Estonia's key natural resources are food, timber and minerals, which form the foundation of both our current and future economy. Estonia has fertile farmland and our milk production stands out in the region for its high quality. The dairy industry is certainly a sector where we can compete internationally," commented Infortar CEO Ain Hanschmidt on the acquisition of Estonia Farmid.

At the end of last year, Trigon Capital CEO Joakim Helenius announced his intention to purchase Estonia Farmid. However, Estonia's largest agricultural sector deal fell through after the bank that had promised co-financing withdrew at the last moment due to significant risks.

Estonia Farmid OÜ holds stakes in three agricultural companies — Estonia OÜ, Kabala Agro OÜ and Sõrandu Farm OÜ — which together employ nearly 150 people. The agricultural group operates 9,400 hectares of arable land in Türi and Järva municipalities, more than 6,000 hectares of which it owns.

The group's dairy farms are located in Oisu, Taikse and Kabala in central Estonia, housing a total of 5,200 dairy cows and young cattle. The average milk yield at the Estonia dairy farm is among the highest in Estonia, reaching 13,300 kilograms per cow.

In addition to milk production, the company grows 27,000 metric tons of grain and rapeseed annually. Estonia Farmid OÜ also holds a 40 percent stake in the Oisu biogas plant, which helps reduce the carbon footprint associated with its milk production.

Infortar operates in seven countries, with its core business areas being maritime transport, energy and real estate. The company holds a 68.5 percent stake in Tallink Group, full ownership of Elenger Group (formerly Eesti Gaas) and a real estate portfolio of approximately 141,000 square meters. In addition to its three main business areas, Infortar is also active in construction and minerals, agriculture, printing and other sectors.

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