Baltic States – CIS, Belarus, Good for Business, Industry, Latvia, Medicine

It is planned that in the nearest future Olainfarm will acquire another 46% shares, thus increasing its holdings to 70%.

The company informs that for the whole 70% shares in the company, Olainfarm has agreed to pay EUR 2.6 mln. The acquisition will allow Olainfarm to move some of its production processes to Belarus.

“We plan to have NPK Biotest not only as our production platform, helping us and our daughter companies to have easier access to the Belarus market, but the acquisition will also add to the group’s product portfolio with numerous herbal teas and their mixtures,“ says Valerijs Maligins, chairman of the board at Olainfarm.

NPK Biotest is one of the first private pharmaceutical companies in Belarus. A group of scientists from Belarussian Academy of Sciences established it in 1990 in Hrodna. The company now is producing natural herbal medicines and food supplements. Its product portfolio includes more than 100 herbal teas, mixtures and powders. NPK Biotest owns four pharmacies in Hrodna. The company’s sales in 2015 reached EUR 2.7 mln.

Consolidated profit of Olainfarm in 2015 was EUR 15.3 mln, which is an increase by 25 % compared to 2014 and by 8 % compared to 2012, when the previous profit record of EUR 14.2 mln was set. The major sales markets of the group in 2015 were Russia, Latvia, Ukraine, Belarus and the Netherlands.