Baltic States – CIS, Foodstuff, Latvia, Markets and Companies, Mergers and take-overs

''AB Holdings has made the strategic decision also to enter the milk processing business. Thus, AB Holdings has become a 50% owner of DK Daugava. The goal of the cooperation is to strengthen the Daugava brand in Latvia and export these products abroad. AB Holdings currently exports various fish products to over 30 countries, and meat products to ten countries,'' Skadina points out.

Meanwhile, the board chairman of DK Daugava Aigars Vaivars is satisfied with the deal, writes LETA.

''The Daugava brand is associated with excellent quality. Our products are also very popular with visiting tourists, thus we came to the conclusion that we must continue to develop our company outside of Latvia. Together with our new investor, we will have a better opportunity to expand production and find new markets. Cooperation with a strong local partner is a logic step in Daugava's growth, and I believe our consumers will only benefit from this,'' Vaivars pointed out.

DK Daugava operates a chain of popular stores throughout Latvia, which sells various high-quality dairy and bread products produced by the company itself.

The company currently operated 39 shops throughout Latvia and produced 70 natural milk products, 90 bread products, and 13 meat products.