RIGA – Cidos Grupa beverages company has become the sole owner of Bauskas Alus brewery, representatives of the companies reported.
Bauskas Alus has sold 100 percent of its shares to Cido Grupa. Information on the transaction has been submitted to the Competition Council for approval.
Bauskas Alus will continue its operations as an independent brewery, selling its products in the market. At the same time, it will be able to use Cido Grupa’s logistics network.
Cido Grupa’s board chairman Marijus Valdas Kirstukas said that the company undertakes to contribute to Bauskas Alus development.
Accoridng to Firmas.lv business database, the sole owner of Bauskas Alus is BA Holdings that belongs to three individuals.
In 2018 Bauskas Alus reported EUR 7.423 million in sales, up 42 percent from a year ago, while the company’s profit increased 2.1 times to EUR 1.338 million. The company was registered in 1999, and has a share capital of EUR 786,996.
Cido Grupa, established in 1994, belongs to Denmark’s Royal Unibrew. Cido Grupa closed 2017 with EUR 62.69 million in turnover, up 7.5 percent against a year before, while its loss shrank to EUR 165,602.