BinDawood Holding’s unit bags EUR 135m acquisition deal

BINDAWOOD
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Riyadh - Mubasher: Just & Cheese OÜ, a fully owned subsidiary of BinDawood Holding Company, has been awarded a bid to acquire the dairy production assets of AS E-Piim Tootmine in Estonia.

The transaction, valued at EUR 135.25 million, includes real estate, operational assets, contractual rights, and ownership stakes in investee facilities.

The acquisition targets a major player in the Estonian dairy sector, which currently holds an estimated 15% share of the local cheese market. The assets primarily involve production and packaging operations in the cities of Paide and Põltsamaa.

The Paide facility has a milk processing capacity of up to 1,100 tons per day, representing approximately 40% of Estonia's total milk production, with an annual cheese production capacity of 36,000 tons.

BinDawood Holding stated that the deal, which was awarded on 14 August 2026, will be funded through available credit facilities. The move aligns with the company's strategy to diversify revenue streams and expand its footprint in the global food manufacturing sector.

Completion remains subject to regulatory approvals and the fulfillment of specific bidding conditions. The company expects the acquisition to have a positive financial impact over the medium and long term.

In the first half (H1) of 2026, the group’s net profit went up by 0.64% year-on-year (YoY) to SAR 119.71 million, while total half-year revenue reached SAR 3.45 billion.

Source: Mubasher Source: {{details.article.source}}