Latvian regulator approves Amber Beverage Group's acquisition in Estonia

RIGA  - The Latvian competition authority this week approved the acquisition of the Estonian alcohol producer Remedia by Amber Beverage Group.

Amber Beverage Group said that the move would open up opportunities to develop a powerful business strategy and to secure a stronger position on the Estonian market.

"During the transition process, both Amber Distribution Estonia and Remedia will continue their established operations as usual. After concluding our mutual agreement about Remedia joining Amber Beverage Group's powerful team, both companies will continue to jointly develop their business strategy in order to secure the strongest possible position within the Estonian market," said Pavels Filipovs, managing director of Amber Distribution Latvia.

"We consider joining a powerful and well-known international conglomerate to be a great new opportunity. We are determined to successfully develop our operations, entering new export markets and increasing our production capacity," said Vladimir Feldman, a board member of Remedia.

Remedia is the third largest producer of alcohol in Estonia. It was the first private company after re-independence to receive a license to produce alcoholic beverages. Currently Remedia's product portfolio includes vodkas, gins, natural liqueurs, cream liqueurs and natural egg liqueurs.

SPI Group created Amber Beverage Group by bringing together several Baltic companies -- Latvijas Balzams, beverage distributors SPI Distribution Latvia, SPI Distribution Estonia and Bennet Distributors in Lithuania, and also the specialized beverage store chains Latvijas Balzams Veikali in Latvia and Darija in Lithuania. Amber Beverage Group was founded and is fully owned by Amber BeverageGroup Holding S.ar.l.

Amber Beverage Group exports its core brands Moskovskaya, Riga Black Balsam, Cosmopolitan Diva and Rooster Rojo Tequila to over 160 markets.