14.12.2023. The Competition Council adopted a decision to authorise INVL Baltic Sea Growth Fund to acquire a decisive influence over UAB Galinta, a wholesaler of groats and flakes. The CC did not find any significant harm to competition and therefore decided to clear the transaction.
INVL Baltic Sea Growth Fund is an investment fund established for investment and investment management purposes, investing in diversified and fast-growing medium-sized companies in the Baltic states, Finland and Sweden, financing their development. Its core business is to seek investment opportunities in line with the company’s strategy by investing in Baltic, Finnish and Swedish companies operating in various sectors. INVL Baltic Sea Growth Fund’s affiliates in Latvia are active in the waste and environmental management sector, providing various waste management services – collecting, transport, sorting, and recycling, as well as street and environmental management services. These companies provide a wide range of environmental management services, i.e. collection of municipal and sorted waste, management of packaging waste and textiles, management of construction and bulky waste and recycling of materials.
UAB Galinta’s related company, UAB Galinta ir partneriai, in Latvia, is active in the wholesale of groats (buckwheat, maize, wheat and barley groats and semolina) and flakes (oats, mixed flakes and buckwheat flakes).
Having assessed the information provided by the companies and available to the CC, the CC concludes that the merger will not result in a significant change in the market structure, lessen competition, or create or strengthen a dominant position on the affected markets in Latvia; the merger is therefore permissible.