OÜ Graanul Mets and OÜ Eremka entered into a contract of purchase and sale, according to which OÜ Graanul Mets acquired a 50% share in OÜ Karo Mets from OÜ Eremka. As a result of this transaction, OÜ Graanul Mets becomes the full owner of OÜ Karo Mets. This transaction is still awaiting approval from the Estonian Competition Authority, as the company says in the press release received by Lesprom Network.
Jaano Haidla, a member of the management board of OÜ Graanul Mets, believes that the main motivation for the performance of this transaction for the Graanul Invest group was to support the strong team of Karo Mets by ensuring better growth and development opportunities for them. Karo Mets is a well-run and strong forestry company operating in Central and Western Estonia that has a sound reputation and good contacts in the region. Significant changes in the day-to-day operations of the company are not planned.
From the standpoint of Runo Ruubel, a member of the management board of OÜ Eremka, it is important that Karo Mets could grow, and the company’s growth opportunities had been exhausted with the current capital base. Cooperation with the Graanul Invest group has been positive, and it shall resume at Eremka’s level also after the sale of its share in Karo Mets.
OÜ Graanul Mets is a company that links the forestry companies of the Graanul Invest group, with additional shares in OÜ Valga Puu and OÜ Roger Puit.