INVL's second PE fund cleared to take control of five Baltic fish businesses

Lithuania's Competition Council has cleared INVL Private Equity Fund II, a closed-end fund for informed investors, to acquire 50.07% of Nordian group and with it sole control of Nordian and, indirectly, of Gonas and Baltijos delikatesai, plus 89.89% of Norvelita and 90% of Saldoga, taking sole control of both. The notification was filed on 7 August; the authority concluded the concentration would not create or strengthen a dominant position or significantly restrict competition in the relevant markets. Nordian group wholesales fish and fish products, mainly fresh salmon and trout, in the Baltics, Poland and Germany, and related companies farm trout in Turkey. Gonas produces chilled and frozen fish products in Lithuania, Latvia and Germany — cutting, weighing, packing and, where needed, marinating and freezing. Baltijos delikatesai makes and sells heat-treated fish products, canned goods and spreads, in the Baltics, Poland, Germany and Romania. Norvelita, a Lithuanian-Norwegian company, does secondary processing — smoking, salting and drying Atlantic and wild salmon — and trades prepared fish and seafood in the EU. Saldoga also does secondary processing, producing smoked Atlantic salmon and mackerel, salted and marinated herring products and herring salads. Terms were not disclosed.