Foodstuff, Good for Business, Latvia, Markets and Companies, Mergers and take-overs

International Internet Magazine. Baltic States news & analytics Friday, 29.03.2024, 09:44

Amber Beverage Group to acquire 49% stake in Lido catering company

BC, Riga, 11.06.2020.Print version
Luxembourg-registered Amber Beverage Group has acquired a 49 percent stake in Latvia's Lido restaurant chain, LETA learned from the competition watchdogs.

Even though Amber Beverage Group Holding will not have a controlling stake in Lido, the parties have agrees that Amber Beverage Group Holding has the rights to appoint two members to the company's supervisory board.


Also, Amber Beverage Group Holding will have veto rights on strategical decisions.

As reported, in 2018 Lido posted EUR 41.883 mln in sales, up 8.5% from a year ago, while the company's profit shrank 7.3 times to EUR 241,365.


Lido was registered in 1991, and has a share capital of EUR 1.292 mln. The company's beneficial owners are Gunars Kirsons and Russian national Vladimir Shestakov who owns VSh Holding.

Amber Beverage Group is a leading producer, distributor, logistics provider and retailer of beverages. It operates internationally from its head office in Luxembourg and through its production and distribution companies in Russia, Mexico, the UK, Austria, Australia and the Baltics, its historical home. Latvijas Balzams distillery also is a part of Amber Beverage Group.






Search site