What TERE AS does

TERE AS is an Estonian dairy producer established in 1996, headquartered in Tallinn at A.H. Tammsaare tee 47, and operating today as a subsidiary of AS Maag Grupp, a diversified Estonian food conglomerate. Since 2018, when it merged with sister dairy AS Farmi Piimatööstus under Maag Grupp (with Estonian Competition Authority approval), the consolidated platform has employed ~220 people and generated combined turnover of 108 million euros (FY2018). The company runs a traditional buy-process-sell CPG model: it purchases raw milk, operates dairy processing and fermentation lines, and distributes a portfolio of more than 150 SKUs through Estonian retail (supermarkets / stores) and Horeca (hotel, restaurant, catering) channels, with selective export activity (e.g., skimmed milk powder to Japan).

The product portfolio spans several branded tiers: the flagship Tere label covers core dairy (milk, sour cream, curd, cottage cheese, butter, mayonnaise, puddings); the Hellus brand front-ends the proprietary ME-3 Lactobacillus fermentum strain (discovered at the University of Tartu in 1995 and licensed to TERE) in kefir, kefir drinks and kefir creams; the Merevaik line extends into processed cheese, cheese dips, smoked cheese and cheese mayonnaise for both retail and Horeca; the Deary sub-brand covers plant-based oat drinks, oat cooking cream, plant-based desserts and tofu bars; and the Fit! sub-brand targets protein-enriched and lactose-free segments. A 2023 packaging co-development with Estiko-Plastar produced a recyclable polypropylene doybag for Hellus kefir drinks with up to 20x better product-to-package weight ratio than glass.

Revenue mechanics are pure commodity / branded food sales with no disclosed pricing model and no public financial filings — the company is privately held. Customer mix is heavily weighted toward mass-market Estonian consumers through retail, supplemented by a Horeca bulk channel and limited cross-border export. The R&D and product-development profile centers on probiotic fermentation science and sustainable packaging rather than software, data, or AI.

Name

TERE AS

Legal name

TERE AS

Website

https://tere.eu

Company type

Private

Founded year

1996

Operating status

Operating

Headcount range

11–50 employees

Short description

TERE AS is an Estonian dairy company producing 150+ SKUs of dairy and plant-based products under Hellus (ME-3 kefir), Merevaik (processed cheese), Deary (plant-based), and Fit! (protein) brands, supplying Estonian retail and Horeca customers as a subsidiary of AS Maag Grupp.

Ownership category

akta.pro rank

Product category

Dairy Manufacturing

NAICS

Dairy Product Manufacturing (3115), Dairy Product (except Frozen) Manufacturing (31151)

SIC

Dairy Products (2020)

akta.pro primary industry

Yogurt & Cultured Dairy (Yogurt, Kefir, Sour Cream, Cottage Cheese) (CRADACAB)

akta.pro secondary industries

Dairy Alternatives (Plant-Based Milk, Yogurt, Creamers) (CRADACAF), Drinkable Yogurt & Kefir Manufacturing (AFAHADAC), Dairy-Based Beverages Manufacturing (Flavored Milk, Lassi, Drinkable Yogurt) (AFAKAKAH)

Keywords

• Dairy products
• Processed cheese
• Plant-based beverages
• Fresh milk products
• Fermented dairy

Headquarters

HQ city

Tallinn

HQ country

Estonia

HQ region

Europe

Offices1 record

Markets served

GTM type

B2C

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Operations, Personnel, Marketing or Sales, Infrastructure

Revenue model

1. Dairy product sales: TERE AS operates as a sales and production company buying raw milk, producing dairy products, and selling finished goods through retail and Horeca channels. The company has an extensive range of more than 150 high-quality products including milk, kefir, cheese, curd, yogurt, butter, and plant-based alternatives.

Go-to-market motion1 record

Distribution channels2 records

Marketing channels2 records

Core offering

TERE AS manufactures and sells a broad range of dairy products including fresh milk, cream, butter, cottage cheese, processed cheese, kefir and probiotic kefir drinks, puddings, curd snacks, and curd creams. The company also produces plant-based alternatives such as oat drinks, tofu bars, and plant-based desserts, alongside high-protein dairy products. Its portfolio is organized under brand lines including Tere, Hellus, Merevaik, Emma, Deary, and Fit!, and is sold to Estonian consumers via retail and to foodservice operators through a Horeca channel.

Product overview

TERE AS is an Estonian dairy company offering a diverse portfolio of dairy and plant-based products. The product range includes: (1) Fresh and fermented dairy products such as kefir drinks (Hellus brand featuring proprietary ME-3 probiotic culture discovered at University of Tartu), yogurts, and sour creams; (2) Cheese products under the Merevaik brand including processed cheeses with various flavours (truffle, ham, chanterelles, garlic, chive, shrimp, chicken), cheese dips, cheese mayonnaise, and smoked cheese; (3) Curd products including quark, curd creams (Emma brand with various flavours and jelly varieties), curd pastes, and cottage cheese; (4) Plant-based alternatives under the Deary sub-brand including oat drinks (barista and fresh varieties), oat cooking cream, and plant-based desserts and puddings; (5) Protein products under the Fit! brand including protein puddings, protein yogurts, and protein bars; (6) Traditional puddings, butter, mayonnaise, and dipping sauces; (7) Bulk products for HORECA sector. The company emphasizes lactose-free options throughout its product range and has recently introduced innovative doybag packaging for kefir drinks in partnership with Estiko-Plastar.

Differentiator

Problem solved

Functional benefit

Brands

• Hellus: Kefir brand featuring ME-3 lactic acid bacteria, D-vitamin fortified products
• Merevaik
• Deary
• Emma
• Fit!
• Jovi Duet
• Lotte Marja

Products and services

• Hellus ME-3 probiotic kefir drinks
• Hellus ME-3 kefir creams
• Merevaik processed cheese
• Merevaik cheese dips and cheese mayo
• Tere fresh milk (whole, low-fat, lactose-free)
• Tere cream and sour cream
• Tere butter
• Tere cottage cheese (kohupiim)
• Tere lactose-free non-fat curd
• Tere puddings
• Emma curd cream
• Tere kohuke (glazed curd snacks)
• Deary plant-based oat drinks
• Deary tofu bars
• Deary plant-based desserts

Quantifiable outcome

• Product-to-packaging weight ratio up to 20 times smaller compared to glass packaging with doybag solution
• +1 more outcomes

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Partnerships

One partnership is on record.

• Estiko-PlastarflagshipTechnology or Integration · 1 August 2023Northern Europe's leading packaging supplier partnered with TERE AS to develop revolutionary doybag packaging for Hellus kefir drinks. The sustainable stand-up pouch solution made of polypropylene (PP) is fully recyclable and promotes circular economy. The packaging reduces product-to-package weight ratio by up to 20 times compared to glass and 2.5 times compared to hard plastic bottles.

Scale indicators3 records

Recent moves6 records

Expansion highlights5 records

Market position

Weaknesses4 records

Competitive moat3 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/Terepiim
• Instagraminstagram.com/tere.piim
• LinkedInlinkedin.com/company/tere-as

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about TERE AS