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Tuesday, 23.04.2024, 15:04
Estonia's Leibur bakery buys Latvian, Lithuanian subsidiaries from parent
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Vaasan Leipa Oy, a holding of the Swedish agricultural cooperative Lantmannen ekonomisk forening, on Jan. 31, 2017 repaid to AS Leibur debt in the amount of 46 mln euros. Three days later, Leibur bought the Latvian company AS Hanzas Maiznica from the Finnish parent company for 13 mln euros and the Lithuanian company UAB Baltvestica for 25.6 mln euros, it appears from the annual report of AS Leibur.
The sum total of claims of Leibur on companies of the consolidation group fell from 57.7 mln euros in 2016 to 17.6 mln euros at the end of last year.
Full-year revenue of AS Leibur declined by 1.1% y-o-y end of the period stood at 60 mln euros.
The average number of employees of AS Leibur in 2017 was 221 and wage costs totaled 3 mln euros.
Investments in technology upgrades made by the company during the year totaled 4.3 million euros and are budgeted to reach five million euros in 2108.
The AS Leibur bakery is a company of the Lantmannen Unibake group belonging to the Swedish farmer cooperative Lantmannen ekonomisk forening.
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