WIDEN Latvia advise advises AS SMILTENES PIENS during the acquisition of decisive influence in AS Cesvaines piens

märts 26, 2026

WIDEN Latvia provided comprehensive legal assistance to the joint-stock company SMILTENES PIENS in a transaction which would result in the company acquiring a decisive influence over the joint-stock company Cesvaines piens. The transaction is significant in the context of the consolidation of the dairy industry in Latvia and provides for further strategic development of the company’s operations. In order to ensure the legal implementation of the transaction, it was necessary to obtain the permission of the Competition Council for the merger of the market players. The WIDEN Latvia team provided legal support at all stages of preparation and approval of the transaction.

At the beginning of 2026, a share purchase agreement was concluded, which provides for the acquisition of decisive influence of the joint-stock company SMILTENES PIENS in the joint-stock company Cesvaines piens. The transaction marks an important step in the company’s further development and strengthens its position in the Latvian dairy industry, as well as will facilitate its development in a wider geographical area. The WIDEN’s M&A team has provided comprehensive legal support to the client at all stages of the transaction, from drafting the due diligence report, identifying material risks and providing the client with comprehensive information on the results of the due diligence, through structuring and negotiating the transaction, to drafting the transaction documentation, including the sale and purchase agreement, and representing the client’s interests during the closing process. The team, led by attorney-at-law Liene Pommere and attorney-at-law Jānis Ešenvalds, works closely with the client, providing legally sound and commercially efficient solutions to successfully progress the transaction to its conclusion.

An essential part of the transaction was the preparation and submission to the Competition Council of a report on the merger, which was done in early February 2026. The report was prepared on the basis of an in-depth assessment of the impact of the transaction on the affected markets, analysing the legal, financial and economic aspects of the merger, including the competitive environment, market structure, the main market players and their market power, as well as the expected effects of the merger. The transaction assessment identified 11 affected markets, several of which were also analysed across different sales channels – the modern retail channel and the out-of-home (OOH) sector. The analysis also covered supply and distribution structures as well as the competitive dynamics of the market players in the segments concerned. On the basis of the analysis, a detailed full report on the merger was prepared and submitted to the Competition Council, ensuring compliance with competition law requirements and providing a reasoned assessment of the impact of the transaction on competition in the relevant markets. The competition report was prepared by Attorney Anna Losāne and the Head of WIDEN’s M&A Practice Group, Liene Pommere.

Owing to the carefully structured report and the comprehensive information provided to the Competition Council on the structure of the relevant markets, the competitive situation, and the impact of the transaction on competition, the Authority decided to clear the merger within one month of the submission of the report. The analysis and the detailed assessment of the markets contained in the report enabled the Competition Council to effectively assess the impact of the transaction and to verify that the proposed merger does not lead to significant impediments to competition in the relevant markets. The Competition Council did not use the possibility to extend the deadline for the adoption of the decision for an in-depth investigation of the transaction, which is often applied in practice in more complex merger cases. This allowed the parties to the transaction to significantly speed up the closing process and ensured a smooth transition to the next stages of the transaction. Timely and high-quality preparation of the documentation, as well as constructive cooperation with the Competition Council during the pre-merger consultations, contributed to an efficient merger review process and successful clearance.

“This transaction reflects the development trends in the Baltic dairy industry and is an important step in the development of AS SMILTENES PIENS, which will maintain the company’s position in the Baltic dairy industry and create new growth and export opportunities in international markets. Its successful implementation required careful legal due diligence and close, effective cooperation with the client at all stages of the transaction,” said a representative of WIDEN.

WIDEN appreciates the opportunity to support SMILTENES PIENS in this strategically important transaction and continues to advise clients on significant acquisitions, investments and business development projects in the Baltics and internationally.