Alcohol, Good for Business, Investments, Latvia, Markets and Companies

Photo: aldaris.lv

"We continue experimenting and offering different kinds of beer in order to promote development of beer culture in Latvia. This is a beer that should be enjoyed slowly, saturated and thick, and has 6.9% alcohol by volume," said Aldaris chief brewer Valdis Cunka.

"Chocolate stout" has been brewed in line with the traditions of the British dark beer, having special chocolate flavor and color.

Visitors of Riga's most popular entertainment places will be able to taste the "Chocolate stout" on the night of November 27 when Aldaris representatives will make a tour to Riga's bars.

Aldaris last year was the leading brewery in Latvia with about 30% of the market. In 2014 Aldaris generated EUR 28.62 million in sales, down 21% from a year ago, while the company's loss was cut three times to EUR 3.4 million, according to Firmas.lv business database.

The company's CEO Margus Kastein told LETA earlier that the drop in turnover is related with the overall situation in the beer market and the change of the company's strategy, resulting in the company losing some influence on the economy beer market dominated by beer in 2-liter PET bottles while focusing on development of new craft beer products.

Total long-term investments in the company's development were EUR 3.2 million, up 28% from 2013. In 2014, the company has launched 13 new products.

In 2013, Aldaris announced a decision to change its strategy and focus on making craft beer and premium beer in its historical brew house, moving production of low-end products to other breweries outside Latvia – Carlsberg breweries in Lithuania and Estonia.