Wolf Theiss advises INVL Baltic Sea Growth Fund and its portfolio company Galinta on the signing of an agreement to acquire 100% of the shares in Cenos from Gemini Grupe

Warsaw, 10 September 2025 – Wolf Theiss advised INVL Baltic Sea Growth Fund, a leading private equity firm from the Baltics and its portfolio company Galinta – one of the largest producers of buckwheat groats in Europe and a leading producer and trader of flakes, rice and other groats in the Baltics – on the signing of an agreement to acquire 100% the shares in Cenos, a Polish manufacturer and distributor of rice, groats, coffee and salt, from Gemini Grupe, a Lithuanian venture capital firm.

Cenos, which has been operating in the market for over 30 years, produces and sells rice, groats, peas, beans, flakes and trades in “Osole”-brand table salt. The company earns the majority of its revenue (98%) from the Polish market.

The Cenos deal is strategically important for Galinta, enabling the company to accelerate its growth in the Polish market. The transaction will strengthen its current position in the rice and other groats segment by adding a well-known brand to its portfolio and a new category – table salt – to its product range.

Wolf Theiss (Poland) and TEGOS (Lithuania) acted as legal advisers to INVL Baltic Sea Growth Fund while Thedy & Partners (Poland) served as financial adviser. Gemini Grupe received legal advice from MJH (Poland).

Wolf Theiss advised on all aspects of the transaction, including the preparation of legal due diligence on the target, negotiation of the share purchase agreement, advice on antitrust aspects, acquisition financing and support in the W&I insurance underwriting process. The transaction is subject to antitrust approval.

The Wolf Theiss team was led by Partner Maciej Olszewski (Corporate/M&A), supported by Associate Dominka Getka (Corporate/M&A). The core team also included Counsels Marcin Rudnik (Competition & Antitrust), Adrian Krzyżanowski (Banking & Finance), Iwona Huryn (Real Estate), Jakub Pietrasik (IP & TMT), Dominik Wałkowski (Environment) and Associates Julia Zuzanna Biedrzycka (IP & TMT), Oliwia Pecht (Employment), Anna Herbetko (Real Estate) and Dariusz Kiełb (Competition & Antitrust).