EU – Baltic States, Lithuania, Markets and Companies, Mergers and take-overs

NDX Group said on Friday Doggy was sold to Hungarian pet food producer Partner in Pet Food for an undisclosed amount.

"The shares are being sold, and another pet food producer is buying them. (…) The deal value is not disclosed right now under the mutual agreement of the parties involved," Andrejus Boicovas, CFO at NDX Group, told.

He refused to comment on media reports that the deal was valued at around 100 mln euros.

The funds received after the deal is closed will be invested in Central and Eastern Europe and Scandinavia, he said.

NDX Group posted 139.638 mln euros in consolidated revenue last year, up 6.9% from 2018. The group includes companies in Lithuania, Latvia, Poland, Slovakia, Belarus, Sweden, Germany, the Netherlands and the Czech Republic.