Alcohol, Latvia, Markets and Companies, Mergers and take-overs

International Internet Magazine. Baltic States news & analytics Sunday, 20.10.2019, 09:25

Latvia: Competition Council has allowed Cido Grupa to acquire Bauskas Alus shares

BC, Riga, 20.09.2019.Print version
The Competition Council has decided to allow an acquisition, providing that Lacplesa Alus brewery, a member of Cido Grupa, acquires Bauskas Alus brewery and its wastewater treatment company Ruta M, LETA learned from the Competition Council.

The Competition Council concluded that after the merger, the aggregate market share of both companies in the beer wholesale market and different retail channels will increase under 5%, which is an insignificant growth. The share of Bauskas Alus in non-alcoholic carbonated beverages is very small.


Representatives of both companies informed LETA that the companies are working on legal aspects of the acquisition, and the transaction will be concluded in a couple of months. Bauskas Alus will continue work as an independent brewery, and will be able to use Cido Grupa's sales and distribution network.


Cido Grupa informed that Bauskas Alus owner Vladimirs Barskovs will continue work in the company until the transaction is completed, and later will consult the company if necessary.

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.


According to Firmas.lv, the sole owner of Bauskas Alus ir BA Holdings that belongs to three individuals - Vladimirs Barskovs (50%), Boriss Raigorodskis (25%), and Jurijs Sancovojs (25%). Bauskas Alus was established in 1999 and has a share capital of EUR 786,996).

Ruta M was registered in 1997, and has a share capital of 145,068. Its largest owner is Barskovs (50.01%), and other shares equally belong to Sancovojs and Raigorodskis. In 2018, the company posted EUR 172,051 in turnover and EUR 24,479 in profit.


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


Lacplesa Alus was registered in 2008, and its share capital is EUR 2,828. Its sole owner is Cido Grupa. In 2018, the company did not have any revenue from its core business.







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