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Alta Capital poised to take over Kalev chocolate

Sep 26, 2007
By TBT staff

KEPT AT HOME: Kalev's long-standing CEO, Oliver Kruuda, stressed that Estonia's premier confectionery will still remain under domestic control after he and other shareholders sold to a local investment firm.
TALLINN - Alta Capital Partners, a venture capital firm, announced that it was purchasing several food-producing subsidiaries of AS Kalev, including the regionally famous chocolate and candy producer. The Estonia-based Alta Capital said in a statement that it was acquiring stakes in Kalev Paide Tootmine, Kalev Johvi Tootmine, Kalev Chocolate Factory, Vilma and Maiasmokk for 880 million kroons (56 million euros). The Estonian dairies Tere and Meieri Transport are also slated to be taken over a ...

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