Latvia, Markets and Companies, Mergers and take-overs

NP Confectionery AB points out that the step is being taken to make operations more effective and does not mean any legal merger of the two companies, informs LETA.

Laima Chairman of the Board Normunds Ozolins added that in order to "boost the positions of both companies on the Baltic market and to curb overlapping of functions, a decision has been made to establish a new management and development company NP Foods, which will co-join all administrative functions in Latvia and the Baltics. This process will have no influence existing cooperation with clients, distributors or other partners."

NP Foods will merge Laima and Gutta's accounting, personnel, marketing, brand and sales departments, and both companies' branches in Lithuania and Estonia.