Katre Kõvask to become the Chairman of the Management Board of the merged Tere and Farmi Piimatööstus

From 15 September, Katre Kõvask, one of the most respected top-level managers and former Chairman of the Supervisory Board of Tere, will become Chairman of the Management Board of Tere AS and AS Farmi Piimatööstus, which merged in July with the approval of the Estonian Competition Authority. She will manage both of these companies with Valdis Noppel, the former CEO of Farmi Piimatööstus. Valdis Noppel and Katre Kõvask will be the members of the Management Board of both Tere and Farmi.

“Katre Kõvask has extensive management experience in the field of trade and food industry, and she has proven herself to be an industrious and capable manager in different positions across the food sector,” the Chairman of the Board of AS Maag Grupp Roland Lepp said. “Katre is a firm-handed leader and a great team player. As a former Chairman of the Supervisory Board, she has a solid overview of Tere and is at a good place to begin managing the joint enterprise. Through the merger of Farmi Piimatööstus with Tere, we have assumed responsibility for the well being of Tere. We intend to continue contributing to the efficient operation and consistent growth of this enterprise. We would like to thank Margit Talts who has successfully managed Tere dairy.”


“Tere has been one of the most popular and leading trade marks in Estonia for a long time. Unfortunately, it has encountered serious economic difficulties,” said Katre Kõvask, the new Chairman of the Management Board of Tere and Farmi Piimatööstus. “Margit kept Tere on the right track under difficult circumstances. We want to continue in this direction with the new Management Board. Tere is currently awaiting approval of the reorganisation plan, in order to start fulfilling the financial obligations of Tere in cooperation with Maag Grupp – we are certain that we will be able to pay our debts with significantly shorter deadlines. In addition, we will continue working with our cooperation partners in the further development of both companies.”


“The merger of Farmi and Tere will result in the creation of the largest dairy products group based on Estonian capital, and it has excellent growth potential, particularly in export markets,” said Katre Kõvask. “We intend to focus on product development and marketing in both companies. Together we will be able to invest in new technologies, we will increase the production of skimmed milk powder and will bring new products into the market. The joint enterprise, which increases competitiveness, can also expand exporting opportunities significantly. In both companies, the most important goals are smart brand management along with competent and conservative financial management, as well as a strategy aimed at increasing the market share in a prudent manner. By joining forces, Valdis and I will be able to offer the best managerial know-how to both companies.”


“The employees working in the team and production units of Tere are great specialists in their fields and make a significant daily contribution to the development of the company,” Margit Talts, CEO of Tere said. “In the past number of months, we have had solid, successful cooperation with Katre and therefore I can hand Tere over to her with confidence.”


“The merger of the two dairy enterprises has had a stabilising effect on the Estonian dairy industry and dairy producers,” said Valdis Noppel, CEO of Farmi Piimatööstus. “The products of both trade marks have found their places onto the shelves of Estonian stores, and I believe that we will achieve the best results for both the company and consumers in cooperation with Katre. Both companies will benefit the most from the improved competitiveness that is supported by the capacity to increase volumes and a strong financial backing. In cooperation with Katre and the employees of both companies, we want to build the strongest dairy industry group in Estonia.”


Katre Kõvask is one of the most respected top-level managers in today’s business world. She has worked 15 years in the food sector, 10 years of which as a member and Chairman of the Management Board of the international food group Premia Foods. Katre Kõvask was Chairman of the Management Board of Pharma Holding OÜ, or Südameapteek, for approximately 2 years.


On 15 March, Maag Grupp submitted a concentration notice to the Estonian Competition Authority for the merger of Tere and Farmi Piimatööstus, which was approved by the Competition Authority on 4 July. During the first stage of the merger, Tere will continue to operate as a subsidiary of Farmi Piimatööstus.


The Tere AS ( trademark was established in 1996. Tere is a sales and production company with an extensive range of products. It has grown from a milk processor into an innovative company. Tere’s main activities are buying up raw milk, production and the sale of dairy products. Its list of products includes more than 150 high-quality products.


AS Farmi Piimatööstus ( has been operating in the Estonian market since 1999 and employs 220 people. In the past decade, Farmi has been an important product developer in Estonia and its products have won the title of the Best Estonian Dairy Product on several occasions. The company collects raw milk from Estonia solely; its production units are located in Virumaa.


AS Maag Grupp ( is a company based on Estonian capital, which started its activities in 1996 and has since grown into a group of companies dealing with the production and sale of food products. AS Maag Grupp incorporates the companies Farmi Piimatööstus, Rannarootsi Lihatööstus, Pouttu, Avalon Foods, Maag Food, Gelid Food and Nigula Piim.

  • TERE AS MAIN OFFICE Lelle 22, Tallinn 11317   Phone: +372 636 4113  E-mail: