Porta Finance advises shareholders of Värska Originaal on sale to Olvi Group
Porta Finance acted as sole financial adviser to the shareholders of Värska Originaal on sale of the leading mineral water business in Estonia to Olvi Group.
Värska Originaal is the leading mineral water producer in Estonia. Founded in 1993 with the roots of the operations dating back to 1973, the company produces its high-quality products in Värska, in Southeast Estonia. In addition to natural mineral waters, their popular product range also includes infused and functional waters. The company employs around 70 people and in 2024 its production volume was 45 million litres.
“We are excited about this new stage of development for the company. The cooperation gives us an opportunity to accelerate product development and bring Värska to even more consumers both in Estonia and abroad. At the same time, production will remain in Värska, since natural mineral water can only be produced at the mineral water spring itself. Our people will be able to continue their work, and our brand values will remain the same,” says Rauno Jõgeva, Member of the Management Board of Värska Originaal.
“This is another concrete step in executing our multi-local growth strategy. We have stated that we are seeking inorganic growth in Europe through acquisitions, and it is our strategic goal to expand the share of our non-alcoholic products. The global trend toward health and wellness continues, and the popularity of non-alcoholic beverages keeps rising. We are pleased to complement our portfolio with Värska's well-established brand and to continue growing together,” says Olvi Group CEO, Patrik Lundell.
As a result of the acquisition, Olvi Group's range of non-alcoholic products will expand, and production capacity will increase, enabling the sales volume of non-alcoholic products to grow by approximately 10%. Värska products are also exported outside Estonia to countries such as Latvia, Lithuania, Finland, Sweden and Ireland.
The transaction is expected to be completed in Q1 2026, pending approval from the Estonian competition authority. The value and the terms of the transaction are not disclosed.
Porta Finance acted as an exclusive financial adviser to the shareholders of Värska Originaal building on our long-term cooperation with the company. Our work included preparation and execution of a comprehensive divestment process.
Further information:
Karl-Erik Kodu
Partner, Porta Finance
Tel: +372 602 5015
karlerik.kodu@portafinance.com
