Saudi Arabian retail giant wins bid for bankrupt Estonian dairy plants
Listed Saudi Arabian retail giant BinDawood Holding submitted the winning €135.25 million bid for bankrupt dairy producer E-Piim's two production plants in Estonia.
The public auction for two E-Piim Tootmine plants in Paide and Põltsamaa closed August 14, with the winning bid well above the €80 million starting price.
Äripäev writes that BinDawood Holding plans to acquire the plants pending all required regulatory approvals, saying the deal would support its strategy of diversifying its business, expanding food-sector investments and strengthening food production and industrial capacity.
The transaction was submitted through its Estonian subsidiary Juust & Jubn OÜ, represented in Estonia by law firm Sorainen.
The acquisition will be financed through BinDawood's existing funding resources, with returns expected over the medium to long term.
The move will also mark BinDawood's first major move into Europe's dairy industry, Postimees writes, noting that Lithuanian broadcaster LRT has reported that the group is also considering investing in Lithuania's dairy sector, either by building a processing plant or acquiring a stake in an existing company.
Major Saudi retail presence
BinDawood Holding reported €1.46 billion in revenue and €62.4 million in profit last year.
As of the end of 2025, the group operated 103 grocery stores, including 33 supermarkets and 56 hypermarkets. It also owned more than 200 pharmacies and had businesses in wholesale, technology, marketing and food production.
Its shares are traded on the Saudi Stock Exchange.
A separate auction for a third E-Piim plant in Järva-Jaani, which had a starting price of €8 million, drew no buyers.
AS E-Piim Tootmine, Estonia's largest cheesemaker, was declared bankrupt in March.
--
Editor: Karin Koppel, Aili Vahtla
