Grant Thornton Baltic advised Balti Spoon OÜ, one of the world's leading manufacturers of peeled and sliced veneer, on the acquisition of a Polish company Bracia Mrozik Sp. z o.o.
The company will be renamed Lubelski Fornir Sp. z o.o. and will be incorporated into the international Möhring Group, which also includes Atlantic Veneer Company and Veneer Tech in the United States, and Baltrec GmbH in Germany. The transaction cost is confidential.
Both Baltic Veneer and Lubelski Fornir specialize in veneer production from European tree species. According to Edmund Smolarek, Member of the Board of Balti Spoon, the acquisition was an important decision that significantly strengthens the company's competitiveness. “As business becomes more global, we are looking for new ways to adapt our strategy, technology and processes to changing market conditions. Being as close to the raw material as possible is important for the group's perspective,” Smolarek explained. Baltic Spoon and Lubelski Fornir have approximately 600 employees.
Grant Thornton Baltic advised the client in negotiations and preparation of transaction documents. Our team consisted of partners Artur Suits and Eneli Perolainen and senior legal counsel Elis Vija.