The Baltics region's leader in chemicals manufacturing is established with professional assistance from the Prudentia team.
On December 7th, 2021, the merger deal was completed between two regional producers of cleaning products – Latvian AS “Spodrība”, and Lithuanian NAUJOJI RINGUVA, AB. As the result of the merger deal, the Baltics region leader in the field of production of cleaning products, which focuses on the development of eco-friendly and innovative products, has been established.
During the merger transaction, AS “Prudentia” represented the interests of the selling company AS “Spodrība” and its shareholders. Under the professionality and extensive M&A experience of the Prudentia team, the deal, which is accepted by both parties of the transaction, has been made, laying solid foundation for further business development.
“Spodrība is the undisputed leader in the development of eco-friendly cleaning products in Latvia, but regional leadership can be achieved more quickly by joining forces with other players in the region. We believe that NAUJOJI RINGUVA is the best partner for this purpose,” said Fridrik Ingi Fridriksson, Chairman of AS “Spodrība” Board.
“NAUJOJI RINGUVA is consistently implementing its strategy to develop innovative and environmentally-friendly products that require significant human and financial resources. Combining the best practices and resources of Spodrība and NAUJOJI RINGUVA will allow us to become a regional leader in this field,” said Jurgita Žilvinskaitė, General Manager of NAUJOJI RINGUVA.
"Combination of forces and market consolidation enables for the Baltic-level players to have broader opportunities for business development beyond the domestic borders." stated Juris Eizentāls, Member of the AS "Prudentia" Council.
About NAUJOJI RINGUVA, AB:
The company was established in 1920. It develops and manufactures home cleaning and body care products, with priority to eco-friendliness, naturalness, and innovation. The company is known to customers through the product brands - BALANCE, RINGUVA, SMILĖ, TINDI. In 2020, the company’s turnover exceeded 5 million euros, and EBITDA was 1.2 million euros.
About AS “Spodrība”:
The company was established in 1921. AS “Spodrība” is the largest manufacturer of household chemicals, body care, plant fertilisers and disinfection agents in Latvia, which is known to customers through the product brands - SEAL, SEAL COSMETICS and ECO SEAL FOR NATURE. The production of it received official EU Ecolabel labeling. In 2020, the company turnover exceeded 8.2 million euros, and EBITDA was 3 million euros.