Bankrupt E-Piim factories receive 135 million euro bid at auction

TALLINN - A bid of 135 million euros has been made for the Paide and Põltsamaa factories of bankrupt dairy company E-Piim, which were put up for auction with a starting price of 80 million euros, reports the daily Postimees.

Bankruptcy trustee Indrek Lepsoo told the business daily Äripäev that the winner's name can be disclosed after the deadline for submitting potential objections has passed and the transaction is complete.

The court declared AS E-Piim Tootmine bankrupt on March 11 and appointed Indrek Lepsoo and Olev Kuklase as the company's bankruptcy trustees.

Creditors decided that the company's business operations should continue during the bankruptcy proceedings, as this would be the best way to preserve its assets. Following this directive, AS E-Piim Tootmine's production units have been operating at up to 30 percent capacity, while the Põltsamaa packaging unit has been running at full capacity, with serving retail customers being the priority. The company has made timely payments to dairy producers and other partners throughout the bankruptcy period.

"Functioning factories, a capable team, and a continuous milk supply system create the best conditions for the new owner to put the assets to use more quickly," commented bankruptcy trustee Olev Kuklase.

According to Anti Orav, CEO of E-Piim Tootmine, the auction's final result proved that the decision to keep the factories operational was the right one. "I was not particularly surprised by the price, as I had expected it to be significantly higher than the starting bid; you cannot build a factory like this for 80 million euros. The price offered also demonstrated that the decision to keep the plant running during the bankruptcy proceedings was correct," he said.

The new AS E-Piim Tootmine cheese factory in Paide is one of the most modern in Europe, capable of processing up to 1,200 tons of raw milk daily. In 2025, the company exported over 90 percent of its output. The company currently employs 180 people, 80 of whom are in Paide. In addition to the cheese factory in Paide, the company has production units in Põltsamaa and Järva-Jaani.