Merito Partners, together with its investors, has reached an agreement to acquire the agricultural company SIA Gaižēni, becoming its majority shareholder.
The transaction between the current owners of Gaižēni – U.S. investment fund group NCH Capital and minority shareholders from Denmark – provides that Merito Partners will become the majority shareholder, alongside the company’s founder and long-time CEO, Alex Rasmusen. This is the largest transaction in the agricultural sector in recent years and one of the largest national capital buyouts in Latvia’s history.
Mikus Janvars, Co-founder and Managing Partner of Merito Partners, commented:
“The acquisition of SIA Gaižēni marks Merito’s entry into one of the historically strongest sectors of the Baltic economy—agriculture. We are pleased to add the flagship of Latvia’s livestock industry to our long-term (evergreen) investment portfolio. As a result of this transaction, the company will come under the ownership of Latvian entrepreneurs.”
Gaižēni, Latvia’s leading livestock farming company, was founded in 1997. It currently operates four pig farms in the regions of Vidzeme and Zemgale and manages an agricultural land portfolio of 1,400 hectares. In 2024, the company’s turnover exceeded EUR 18.5 million, with profits reaching EUR 4 million.
The transaction states that the company’s management team will reinvest in its development alongside Merito. “The introduction of new investors is a carefully planned and strategically important step in the long-term development of Gaižēni. I am grateful to the previous investors for their long-standing support in the company’s growth. After 30 years of living and doing business in Latvia, I am truly pleased with the confidence shown by local investors. Local capital will help strengthen our long-term direction and contribute to the growth of Latvia’s agricultural sector,” said Alex Rasmusen, Founder and CEO of SIA Gaižēni.
A notification has been submitted to the Competition Council, and completion of the transaction is expected following its review and approval. The transaction is financed through investments from Latvian private investors, as well as bond financing arranged by Signet Bank.
Kārlis Cerbulis, Head of NCH Capital in the Baltics, commented:
“NCH Capital’s financing and long-term support have enabled SIA Gaižēni to become a leading livestock and agricultural company in Latvia. We are pleased that its growth will continue in cooperation with Latvian investors. We are also glad that the company’s founder and CEO, Alex Rasmusen, will continue to lead and develop the business going forward.”