RIGA - Rigas Piensaimnieks dairy, a company of Food Union group, has legally become a subsidiary of the concern's dairy Rigas Piena Kombinats, according to Firmas.lv business database.
Changes have been registered in the Commercial Register on September 23.
The true beneficiaries of Rigas Piensaimnieks are two Cypriot citizens and one citizen of the UK.
So far Rigas Piensaimnieks solely belonged to Cypriot-registered company Food Union Holding (CY) Public Company Limited.
Rigas Piensaimnieks in 2018 posted EUR 32.769 million in turnover and EUR 4.292 million in profit.
The company was registered in 1993 and its share capital is EUR 2,625,296.
Food Union is the largest dairy company in Latvia and the leading ice cream producer in the Baltic countries. Food Union Group is made up of three largest dairy companies and ice cream makers in Latvia – Rigas piena kombinats, Valmieras piens, and Rigas piensaimnieks, Estonia’s largest ice cream maker Premia, the leading Danish ice cream producer Premier Is and Danish ice cream distribution company Hjem Is, Norway’s ice cream company Isbjorn Is, Romanian ice cream maker Alpin57Lux, and ice cream company Ingman Ice Cream in Belarus.
The group’s key shareholder is Russian businessman, now Cypriot citizen Andrey Beskhmelnitsky. The group's shareholders also include Hong Kong-based investment company Meridian Capital Limited and one of Asia's largest private capital companies, PAG.