BaltCap has sold its 48 per cent shareholding in the Latvian moulded fibre manufacturing company VLT Ltd.
BaltCap invested in the company back in 2004 to finance two rounds of expansion of production capacity. While post crisis economic environment proved challenging to sustain growth of the company, the moulded fibre packaging producer maintained solid profitability, acquired new export markets and solidified its market position in Eastern Europe.
The shareholding was sold to one of the founders of the business. The parties have agreed not to disclose details of the transaction.
