EU – Baltic States, Foodstuff, Investments, Latvia, Legislation, Markets and Companies

The parties to the transaction have agreed to keep the price and other terms of the deal confidential.

Andrey Beskhmelnitsky, the founder and the head of Food Union group, said that this acquisition would strengthen the group's position in the Danish ice-cream market, supporting the ongoing efforts to expand in North Europe.

Hkem Is specializes in ice-cream home delivery which is very popular in Scandinavia. "It will be an excellent addition to the group's representation in Denmark," Beskhmelnitsky said, adding that Food Union already owned a leading Danish ice-cream producer, Premier Is.

Hjem Is will be delivering to customers high-quality ice-cream made mostly in Thisted, Denmark.

Previously Hjem Is belonged to a group of private investors.

Food Union Group is an international group of dairy and ice cream producing companies. Food Union Group comprises Rigas Piena Kombinats, Valmieras Piens, and Rigas Piensaimnieks in Latvia, Premia in Estonia and Lithuania, Premier Is in Denmark, Isbjorn Is in Norway, Alpin57Lux in Romania, Hladokombinat No.1 in Russia, Ingman Ice Cream in Belarus, and two dairy production facilities currently under construction in China.

Food Union exports its products to more than 25 world countries but its main markets are Latvia, Lithuania, Estonia, Denmark, Norway, Poland, the Netherlands, the United Kingdom, Azerbaijan, Russia and China.

In 2016, the group posted a consolidated turnover of EUR 247 million.