Vilkyškių pieninė pays €7.5 million for Marijampolė Pienas konzervus

Vilkyškių pieninė, one of the largest dairy processing companies in Lithuania, managed by Gintaras Bertašius, on Friday completed the acquisition of the company „Marijampolės pieno konservai“ (MPK), which is experiencing financial difficulties. 

EUR 7.5 million was paid for 100 percent of the company's shares to Klaipeda-based „Karpis“, Vilkyškių pieninė announced on the Vilnius Stock Exchange via the „Nasdaq“Nasdaq“ marketplace.

According to the announcement, the deal makes „Vilvi Group“ one of the largest dairy processing groups in the Baltic States.

„This transaction will allow the Group to expand its product portfolio,“ the report said.

The takeover of MPK's shares will leave the company's core business unchanged, the company said – the company will continue to produce canned and powdered milk. It owns two companies – the Marijampolė plant, which produces canned milk and butter, and the Kalvarija plant, which produces various types of milk powder.

„The company will be systematically integrated into the structure of the „Vilvi Group“ in order to effectively exploit the Group's economies of scale and operational synergies. It is also planned to fully operationalise the largest butter production line in the Baltic region," the announcement said.

According to the statement, „Marijampolė pieno konzervės“ annual revenues are expected to increase from around €65 million to more than €100 million.  

In December last year, Nerijus Jakubauskas was appointed CEO of MPK, after having worked as Business Development Manager at „Vilvi Group“ since autumn 2024, and in a similar role at MPK since April 2025. He replaced Henrikas Karpavičius.

G. Bertašius told BNS at the time that the new head of MPK was appointed on the initiative of Vilkyškių pieninė.

BNS wrote that Vilkyškių pieninė announced last May that it had signed an agreement with „Karpis“ on the sale and purchase of 90–100 per cent of the shares in MPK – it was announced then that the final stake to be sold would depend on the implementation of the terms of the agreement, and the price would be determined after a financial audit and an assessment of the company's performance. 

Vilkyškių pieninė acquired in February last year, for an undisclosed amount, a claim on the outstanding liabilities of MPK and its Lukšių pieninė to its main creditor, the bank „Artea“. At the end of 2024, these amounted to €16 million.

The agreement comes after the courts definitively recognised the legality of the will of Raimonds Karpavičius, the owner of Lukkas Lukkas, who passed away in 2019, and put an end to the disputes in the courts over the management of Lukkas Lukkas and „Karpis“.

BNS wrote that after the Competition Council allowed Vilkyškių pieninė to acquire MPK in November last year, it also allowed the agricultural cooperative „Džiaugsmelis“ to acquire directly and indirectly 100 percent of the shares of „Karpis“ and several related companies in Lithuania, Spain, and the Ukraine. 

„Vilvi Group“ currently consists of Vilkyškių pieninė, „Modest“, Kelme pieninė, „Kelmės pienas“, „Pieno logistika“, Latvia's „Baltic Dairy Board“, and „Marijampolės pieno konservai“. The Group's companies employ around 1,400 people.