KJK BLTK Holding OÜ signed an agreement to acquire AS Baltika in a reverse merger transaction on June 26, 2023. The transaction is subject to AS Baltika shareholder approval. As of July 27, 2023, AS Baltika shareholders approved the transaction. The transaction is expected to closed by August 28, 2023. As of August 28, 2023, Baltika submitted an application to transfer minority shareholders' shares to the majority shareholder, KJK BLTK Holding AS. The settlement of the shares and the compensation payable for the shares is scheduled to take place on or around August 29, 2023.

KJK BLTK Holding OÜ completed the acquisition of AS Baltika in a reverse merger transaction on August 29, 2023.