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International Internet Magazine. Baltic States news & analytics Tuesday, 15.10.2019, 09:44

Cido Grupa becomes sole owner of Bauskas Alus brewery

BC, Riga, 11.06.2019.Print version
Cidos Grupa beverages company has become the sole owner of Bauskas Alus brewery, representatives of the companies reported LETA.

Bauskas Alus has sold 100% of its shares to Cido Grupa. Information on the transaction has been submitted to the Competition Council for approval.

Bauskas Alus will continue its operations as an independent brewery, selling its products in the market. At the same time, it will be able to use Cido Grupa’s logistics network.

Cido Grupa’s board chairman Marijus Valdas Kirstukas said that the company undertakes to contribute to Bauskas Alus development.

Accoridng to business database, the sole owner of Bauskas Alus is BA Holdings that belongs to three individuals.

In 2018 Bauskas Alus reported EUR 7.423 mln in sales, up 42% from a year ago, while the company’s profit increased 2.1 times to EUR 1.338 mln. The company was registered in 1999, and has a share capital of EUR 786,996.

Cido Grupa, established in 1994, belongs to Denmark’s Royal Unibrew. Cido Grupa closed 2017 with EUR 62.69 mln in turnover, up 7.5% against a year before, while its loss shrank to EUR 165,602.

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