Cēsis Beer Acquires Valmiera Beer

The sole owner of the brewery LLC "Valmiermuižas alus" has become the joint-stock company "Cēsu alus", according to information published on "Firmas.lv".

In this regard, the board of "Valmiermuižas alus" has appointed the chairwoman of the board of "Cēsu alus" and the sole board member of LLC "Piebalgas alus", Evija Grinberga.

Changes have also been made to the company's charter: in the future, the board of "Valmiermuižas alus" will consist of one board member, who will be elected by the participants' meeting for an indefinite term. Previously, the company's charter stipulated that the board of "Valmiermuižas alus" consisted of three board members, elected for an indefinite term.

The chairman of the board of "Valmiermuižas alus" was previously co-owner Aigars Rungis, and the board members were Rihards Trumpe and Anita Saulite.

Changes in the ownership and board composition of the company were registered in the Enterprise Register on Saturday, January 17.

As reported, after the completion of the transaction, former co-owner Rungis will continue to consult the new management of the enterprise to preserve the recipes of "Valmiermuižas alus".

The sole owner of "Valmiermuižas alus" was previously LLC "Valmiermuižas ieguldījumu fonds", in which 60% is owned by LLC "Rungis", whose sole owner is Rungis, 24% belonged to the Austrian investment fund "Industrieliegenschaftenvervaltungs", and 16% to the Austrian-registered "MVF40 Beteiligungs".

The turnover of "Valmiermuižas alus" in 2024 amounted to 10.018 million euros, which is 6.2% more than the previous year, while the company's profit decreased by 2.9 times to 65,858 euros. The company "Valmiermuižas alus" was registered in 2005, and its share capital is 1.454 million euros.

In turn, "Cēsu alus" had a turnover of 101.133 million euros in 2024, which is 1.1% less than the previous year, while the company's profit increased by 4.4% to 3.564 million euros. The enterprise "Cēsu alus" was registered in 1991, and its share capital is 8.31 million euros. The largest owner of "Cēsu alus" is the Finnish concern "Olvi" (99.88%).