The INVL Baltic Sea Growth Fund, the leading private equity fund in the Baltics, has announced that its portfolio company, Galinta, one of the largest buckwheat producers in Europe and a major producer of cereal flakes in the Baltics, has signed an agreement to acquire 100% of the shares in the Estonian company Worldline. The company produces packaged rice, groats, and other cereal products under the ‘Baltix’ brand.
“With this acquisition, Galinta strengthens its position in Estonia and gains a well-established producer with a brand that is familiar to consumers. We also see tangible synergies in raw material procurement, production, and logistics,” says Aurimas Taraškevičius, CEO of Galinta.
‘Baltix’ is one of the top three brands in its category in the country, and its products are sold in all major Estonian retail chains.
In 2025, the Galinta Group’s revenue amounted to EUR 37.9 million. The acquisition will add approximately EUR 2.1 million in annual revenue to the Galinta Group.
The transaction is expected to be completed by the end of this year, subject to approval from the Estonian Competition Authority and the fulfilment of other customary closing conditions.
About the INVL Baltic Sea Growth Fund
With a fund size of EUR 165 million, the INVL Baltic Sea Growth Fund is one of the leading private equity funds in the Baltics. Its anchor investor is the European Investment Fund (EIF), which is a part of the European Investment Bank and committed EUR 30 million with the support of the European Fund for Strategic Investments (a key element of the Investment Plan for Europe, or the Junker Plan) while also allocating resources from the Baltic Innovation Fund (a “fund of funds” initiative developed in cooperation with the governments of Lithuania, Latvia and Estonia, to increase capital investment in high-growth potential small and medium-sized enterprises in the Baltics).
The fund is managed by INVL Asset Management, the leading Baltic alternative asset manager, which is a part of the Invalda INVL Group with over 30 years of experience. The group’s companies manage or have under supervision EUR 2.3 billion in assets across various investment strategies, including private equity, forests and agricultural land, renewable energy, real estate, and private debt. Additionally, the group provides family office services in Lithuania, Latvia and Estonia, manages pension funds in Latvia, and invests in global third-party funds.
About Galinta
Galinta is one of the largest producers and traders of buckwheat, rice and other groats in the Baltic region, whose 100% of shares were acquired by INVL Baltic Sea Growth Fund in February 2024. Having started its operations in 1997 as a trader of grain grown by Lithuanian farmers, the company today supplies its products not only to Baltic consumers but also to customers in the United States, the United Kingdom and Scandinavia. During the fund's management period, the company has been pursuing an active expansion strategy in the region — in 2025 it acquired Lithuanian buckwheat groats producer Ekofrisa, thereby strengthening its market position.
About Worldline
The company began its operations in 1997 by supplying grain products to various food industry manufacturers and packers. Six years later, having acquired packaging equipment, the company started packaging its own products as well. That same year, the well-known brand Baltix was introduced, which quickly gained consumer recognition.
Today the company supplies products both to the HoReCa sector and to food industry companies in Estonia and beyond, with its clients including not only local but also Finnish and Latvian retail chains. Its core business remains the import, export and packaging of grain products, while for those with a sweet tooth, the company additionally offers a variety of cupcakes, cookies and other treats.
Further information:
Deimantė Korsakaitė
the Executive Partner of the INVL Baltic Sea Growth Fund
deimante.korsakaite@invl.com
