Restructuring and sale of cooperative Jõhvi Piim to Maag Grupp

During the period 2003-2005 Illar Kaasik advised owners of Jõhvi Piim on restructuring, capital raising and ultimately selling the company’s shares to Maag Grupp, which is one of the largest food concerns in Estonia. The project involved different development phases of the company at the time when the dairy market in Estonia was in decline and Jõhvi Piim generated loss. Despite the difficult economic environment, it was managed to prepare a successful restructuring plan, make the necessary investments and find a strategic partner.