Foodstuff, Good for Business, Industry, Latvia, Markets and Companies

"It seems that all the objectives for this year will be achieved, including profit and production amount projections," said Endele.

This past spring, Karavela acquired Larsen Danish Seafood and has been integrating its production and sales processes into the Karavela system, reminded Endele.

"The good news is that we have fully taken over all that sales network. We know how to make most of their products," said Endele, adding that talks are under way at the moment on development of new products, and that several original products of Karavela will be available in stores in Germany.

Participation in the Anuga fair, which will be held in Germany's Cologne October 5 to 9, is one of the biggest goals for Karavela this year.

As reported, Karavela turned over EUR 41.616 mln last year, an increase of 7.5% on 2017, while the company's profit increased several times to EUR 1.513 mln, according to Firmas.lv.

Karavela was registered in 2001, it is one of the largest fish processing companies in the Baltic countries. The company's share capital is EUR 49,700. Karavela is owned by three individuals, including Janis Bite, the largest owner with a 56% stake.