BinDawood Holding subsidiary wins EUR 135.25 million bid for AS E-Piim Tootmine assets in Estonia

BinDawood Holding Company's Estonian subsidiary, JUUST & JUBN OÜ, has won a EUR 135.25 million bid to acquire the factory dairy production assets of AS E-Piim Tootmine in Estonia, expanding the Saudi retailer's international manufacturing capabilities.

Saudi Arabia-based retail conglomerate BinDawood Holding Company has announced that its wholly owned Estonian subsidiary, JUUST & JUBN OÜ, won an auction bid to acquire the dairy production operations assets of AS E-Piim Tootmine in Estonia for EUR 135.25 million. Delegated trustees Indrek Lepsoo and Olev Kuklase represented the seller in the transaction, which was formally entered into on August 14, 2026. Final completion of the deal remains subject to standard auction terms and applicable regulatory approvals. Financing for the purchase will be secured through BinDawood Holding's existing credit facilities.

The acquisition target encompasses real estate, associated operating assets, contractual rights, and equity stakes in investee entities. AS E-Piim Tootmine is a established player in Northern Europe's dairy sector, maintaining a 15% market share in Estonia. The primary production assets consist of dairy processing and packaging facilities located in Paide and Põltsamaa. Notably, the flagship Paide plant possesses a daily processing capacity of up to 1,100 tonnes of milk-representing approximately 40% of Estonia's total raw milk output-and an annual cheese manufacturing output capacity of 36,000 tonnes.

This cross-border transaction significantly advances BinDawood Holding's strategic objective to diversify its revenue streams beyond retail distribution into upstream food manufacturing and processing. Integrating established processing infrastructure in Estonia offers direct access to European dairy supply chains, enhancing supply chain resilience and mitigating global procurement risks. Furthermore, securing high-capacity cheese and whey production infrastructure allows the group to capture operational synergies across its extensive retail network in the Middle East.

From an industry perspective, the acquisition highlights growing interest from Gulf-based capital in European agricultural and food infrastructure assets. By securing primary processing capability at scale, BinDawood Holding positions itself to capitalize on international export channels while reinforcing food security initiatives across its core operating markets.