EU – Baltic States, Latvia, Markets and Companies

"This would be a significant step in our company's development and more proof that goods made in Latvia can be competitive on a global scale. Furthermore, by taking over the experience gained by The Soap Story, we will be able to extend Stenders range of products and introduce a brand that will attract customers all over the world," the Member of the company's Board Janis Berzins explains.

Acquisition of The Soap Story will allow Stenders to enter the Western European market, in which it has been operating relatively little until now.

The Soap Story is a company, established in 2003, which produces bath and body cosmetics and operates a chain of 35 shops, located in Belgium, Spain, Czech Republic, Turkey, Portugal, Netherlands and Cyprus.

Stendera ziepju fabrika was founded in 2001 and it also manufactures bath and body beauty treatment products. The enterprise has developed a chain of 180 shops, which operate in 14 countries around the world, including China, Japan, Finland, Poland, Russia, Sweden, Hungary etc.

Stendera ziepju fabrika posted LVL 3.5 million in turnover last year, which is 4.5% more than in 2007, when it stood at 3.35 million. The company's gross profit reached LVL 1.29 million in 2008.