Baltic, Business, Estonia, Foodstuff, Latvia, Lithuania, Markets and Companies

This plan includes the opening of two new restaurants in Latvia as well.

In the upcoming two years, McDonald’s plans to invest EUR 11 mln. to expand its chain of restaurants in the Baltics. EUR 3.79 mln. will be invested in Latvia in 2016 and 2017.

This year, EUR 1.5 mln. was invested in Latvia to expand the McDonald’s chain, as three restaurants were updated and modernized. McDonald’s also has introduced its line of breakfast products, and opened a 12th restaurant in Latvia this year.

As reported, Premier Restaurants Latvia Ltd., the company which operates the chain of McDonald’s fast-food restaurants in Latvia, saw a substantial dip in profits last year, according to Firmas.lv.

In 2014, the company posted EUR 6,618 in profit, compared to EUR 632,730 in profit in 2013.

Meanwhile, the company also achieved EUR 29.95 mln. in turnover last year, which was by one percent more when compared to 2013, when the company posted EUR 29.63 mln. in turnover.

Premier Restaurants Latvia is owned by the Dutch company Premier Capital B.V.

Premier Capital B.V. owns and operates over 60 McDonald’s and McCafe fast food establishments in Latvia, Lithuania, Estonia, Greece and Malta.

There are currently 12 McDonald’s restaurants operating in Latvia.