Time capsule ceremonially laid in the foundations of 'LIDO House' – more than EUR 30 million to be invested in the new complex

On 27 August, a time capsule was ceremonially laid in the foundations of “LIDO House”. “LIDO House” will be a major production, logistics and warehousing complex for AS “LIDO”, developed by transforming part of the historic Riga Radio Factory building at 3D Kurzemes Prospekts in Riga. More than EUR 30 million is planned to be invested in the project.

“LIDO House” will become a key hub for the company’s future development and represents the logical next step in LIDO’s growth. The company has exhausted the development potential of its existing premises, where production capacity has reached its limit. The new complex will bring production and the related logistics and warehousing infrastructure together in one location, while also enabling the introduction of modern production equipment and technologies. This will allow LIDO to significantly increase production capacity, expand its product range, including packaged products and ready meals, and supply its existing restaurant network more efficiently while supporting its further expansion. One of LIDO’s key future development priorities will be exports, and the increased production capacity will create greater opportunities in international markets. The new complex will also house the administration of AS “LIDO”.

Speeches at the ceremony were delivered by Minister of Economics Viktors Valainis, Deputy Mayor of Riga Māris Sprindžuks, “Apollo Group” Management Board Member Toomas Tiivel, LIDO Chairwoman of the Management Board Rita Auziņa, and SIA “Aimasa” Finance Director Iveta Vucena.

The time capsule contained messages from LIDO employees for the company’s future and future generations, symbolically affirming that the foundations of “LIDO House” are built on the company’s most important pillar – its people, whose work has shaped LIDO into the company we know today and will continue to drive its growth in the future.

“LIDO House” is a strong demonstration that Latvian companies are ready to invest, modernise production and think on a much larger scale. A new production facility with a capacity of up to 100 tonnes per day means not only a more efficient company, but also greater competitiveness and export potential for Latvia’s food industry. These are exactly the kinds of investments we need – in companies that see their future in Latvia, create value here and are ready to compete internationally,” emphasises Minister of Economics Viktors Valainis.

Addressing those present, Chairman of the Supervisory Board of LIDO Ivars Vendelins said: “The transformation of the historic Riga Radio Factory site is a strategic step that extends beyond the boundaries of a single company. These long-term investments provide a solid foundation for the future growth of the LIDO Group and a strong impetus for the development of the Imanta neighbourhood and Riga’s urban environment. Our goal is to create a modern, multifunctional environment where historical heritage meets contemporary business and infrastructure solutions.”

“For nearly a decade, we have dreamed of a building that would bring all of the company’s strategically important functions together under one roof. This is a historic moment that confirms our vision is becoming a reality – LIDO will finally have a home of its own! It will play a crucial role in the company’s future development and growth, enabling LIDO to increase production capacity and expand exports across the Baltics and Scandinavia. I am proud of our team and our partners who are helping us bring this project to life and driving the company towards new heights,” said Chairwoman of the Management Board of LIDO Rita Auziņa.

The new complex will have a total area of 16,000 m². The building is scheduled for completion and commissioning in spring 2028.

In connection with the project, AS “LIDO” registered SIA “LIDO māja” in February this year, establishing production as a separate subsidiary. The company will provide centralised production for all LIDO businesses and will form an integral part of the LIDO Group.

“LIDO House” will be part of a new multifunctional development complex in Imanta, which will also include entertainment, retail and service infrastructure covering 88,000 m². The project is owned and developed by SIA “KP4” and SIA “KP3”, with which LIDO has entered into a long-term, 20-year lease agreement. Both companies are owned by Estonian entrepreneur Ivar Vendelin.

About LIDO

LIDO specialises in the food service industry and has developed a unique concept with a distinctive menu and interior design. AS LIDO is the largest food service company in Latvia, and the LIDO brand is widely recognised and highly valued by customers.

LIDO has ranked among the leading companies in the “TOP Employer” survey for 10 consecutive years. For the third year in a row, it has taken 1st place in the HoReCa category and ranked among the TOP 7 employers in the overall “Top of Mind” category.

The LIDO Group operates 13 restaurants and five stores in Latvia (Riga and Ādaži), the LIDO AS[H]AIS store, five restaurants in Tallinn, Estonia, as well as a meat and prepared foods production facility, a brewery and a confectionery facility in Riga. The company employs more than 1,200 people in total.