Business, Economics, Good for Business, Latvia, Markets and Companies

This according to a deal between Cido grupa parent company Royal Unibrew and U.S corporation PepsiCo. Companies owned by Royal Unibrew will become PepsiCo representatives in the Baltic States, with rights to produce and distribute PepsiCo soft drinks in Lithuania, Latvia, and Estonia.

This partnership will help Royal Unibrew strengthen its positions in the soft drink market segment in the Baltics, which will play an important role in further growth of the company. Among the represented brands will be Pepsi, Mirinda, 7Up, Mountain Dew.

As reported, last year Cido grupa increased its turnover by one % to EUR 55.93 mln., according to information from Firmas.lv. Meanwhile, the company posted a four-fold reduction in profit - from EUR 2.42 mln. in 2013 to EUR 581,334 last year.

The company also increased the share of exports in total sales to 21 %, with 63 % of total exports going to Estonia and Lithuania, 25 % to other European countries, and 12 % to Russia.