Baltic States – CIS, Foodstuff, Investments, Latvia, Markets and Companies

It is possible that the company has been bought by Alexander Bezkhmelnitski, who this past March bought shares in the joint-stock dairy company Rigas piena kombinats, and has been active in the dairy business in Russia, C.I.S. countries and international markets, reports LETA.

Valmieras piens CEO Rolands Gulbis told Nozare.lv that he had no information about the deal. "I am not a shareholder, therefore I will not comment. I once said that I would continue to work at the company until it was sold. Since I am still here, there have been no changes."

Juris Petersons, a representative of Valmieras piens shareholders, told Nozare.lv on September 5 that several investors were interested in Valmieras piens.

"Talks on investments, investment purchases and sale are taking place on a regular basis, and several prospective investors are very interested in Valmieras piens at the moment," said Petersons.

Valmieras piens makes full spectrum of dairy products: milk, curds, cheese, butter, sour cream, dehydrated dairy products and others.

In 2010, the company's turnover amounted to LVL 29.6 million – a 9% increased on 2010. Valmieras piens also posted LVL 885,000 in losses last year, compared to a loss of LVL 108,167 in 2001.

Company Inpo 7 owns controlling interest in Valmieras piens; Inpo 7 belongs to Privato aktivu parvalde, which in turn belongs to Sabiedriba privatajiem ieguldijumiem (SPI).

SPI, a company managing investments into various projects, is owned by ex-Prime Minister Andris Skele's spouse Kristiana Libane-Skele (30%), Skele's daughters Madara Skele (25%) and Anete Skele-Petersone (25%), Skele's business partner Edgars Skenderis (10%) and another business partner Iveta Smilga-Krongorne (10%).