Leading cheesemaker E-Piim Tootmine asset sell-off starts
The sale of the assets of bankrupt dairy company E-Piim Tootmine began on Wednesday, with the company's production units in Paide, Põltsamaa and Järva-Jaani set to go up for public auction in August.
The assets are being sold in two main lots: the assets of the Paide and Põltsamaa cheese factories with a starting price of €80 million and the assets of the dairy processing plant in Järva-Jaani with a starting price of €8 million.
The sale will take place through a public auction, which is set to begin on August 7. In addition to Estonian investors, companies from Finland, the Netherlands, Lithuania and Germany have expressed interest in making a purchase.
E-Piim Tootmine's production units are currently operating at up to 30 percent of capacity, while the packaging unit in Põltsamaa is operating at full capacity.
"Creditors decided that the company's business operations should continue during the bankruptcy proceedings, as this is the best way to preserve the assets," E-Piim Tootmine CEO Anti Orav said in a company press release. According to Orav, serving customers has remained a priority.
The company has paid dairy farmers and other partners on time throughout the bankruptcy proceedings.
"Operating factories, a strong team and a continuing milk supply system create the best conditions for a new owner to put the assets to use more quickly," bankruptcy trustee Olev Kuklase said.
E-Piim Tootmine's new cheese factory in Paide is capable of processing up to 1,200 metric tons of raw milk per day. In 2025, the company exported more than 90 percent of its production.
The company currently employs 180 people.
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Editor: Marcus Turovski
