COBALT advises SRV in development of VAASAN Group’s new bake-off factory in Estonia

VAASAN Group has announced the construction of a new bake-off factory in Saue, Estonia. This is part of VAASAN Group’s bake-off business line strategy that aims to strengthen VAASAN Group’s competitive position across their home markets, enable production of a wide range of high quality products, and expand operations of bake-off its business into new markets in the Baltic countries.

Construction of the new factory in Saue will start within the coming months and is expected to be ready in a year. Production in Saue will then start gradually. Full operating capacity is expected to be reached in the beginning of 2014.

COBALT has been engaged as Estonian legal adviser for real estate developer SRV which has provided VAASAN with land for the new production site, and also manages the detailed planning process and construction of the bake-off factory.

SRV is one of the oldest real estate developers in Estonia, having started in the real estate market shortly after Estonia regained independence in 1992.

COBALT team for this project is led by partner Marina Tolmatshova and senior associate Heleri Tammiste.