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"The company’s strategic goal is to increase its market share, including by buying new companies, thus, in the future we plan to purchase new drugstores," said Kulins.

He did not disclose whether the company presently is at a certain stage of talks and acquisition.

According to Firmas.lv business database, A Aptiekas on September 1 completed restructuring by acquiring two A.Baluka Privataptieka drugstores located in southwestern Liepaja city.

As reported, A Aptiekas last year reported EUR 38.157 million in sales, up 12% from a year ago, while the profit rouse four times to EUR 445,967.

A Aptiekas was founded in 2005, and has a share capital of EUR 284,704. The company belongs to Magnum Medical that is further owned by Estonian company Magnum.