Soren Lauridsen Takes Helm as Chairman of Supervisory Board Rīgas Piena Kombināts
Source: The DairyNews
Latvia’s prominent dairy processing and ice cream manufacturer, "Food Union," has announced significant changes to its supervisory board, particularly concerning its flagship production facility, "Rīgas piena kombināts."
Effective immediately, Soren Lauridsen, Executive Chairman of "Food Union" in Europe, assumes the role of Chairman of the Supervisory Board. Joining him is Lincoln Pan, Partner and Co-Head of the alternative investment firm "PAG Private Equity," as a newly appointed Board Member.
Harijs Panke, Vice-Chairman, continues his tenure on the board. However, this transition sees the departure of former Chairman Andrey Beskhmelnickiy and Board Members Soto Miguel Castellanos, Edgars Pīgoznis, Ingrīda Blūma, and Jana Kraveca.
These changes stem from a recent transaction in January, wherein "PAG Private Equity" acquired a majority stake in "Food Union" in Europe, prompting a restructuring of the supervisory board.
Artūrs Čirjevskis, CEO of "Food Union" in Europe, explains, "The revised composition of the board mirrors the evolving landscape of our European operations following the majority acquisition by 'PAG.' With regulatory approvals secured, a leaner supervisory board is appointed to expedite commercial growth and value creation, aligning with our strategic priorities."
"PAG Private Equity" has a track record of active investments in the food sector, particularly in frozen foods. Recent acquisitions include leading Australian companies Patties and Vesco, complementing its existing consumer product portfolio encompassing retail franchises, chicken processing, and dairy production.
Harijs Panke, Vice-Chairman, continues his tenure on the board. However, this transition sees the departure of former Chairman Andrey Beskhmelnickiy and Board Members Soto Miguel Castellanos, Edgars Pīgoznis, Ingrīda Blūma, and Jana Kraveca.
These changes stem from a recent transaction in January, wherein "PAG Private Equity" acquired a majority stake in "Food Union" in Europe, prompting a restructuring of the supervisory board.
Artūrs Čirjevskis, CEO of "Food Union" in Europe, explains, "The revised composition of the board mirrors the evolving landscape of our European operations following the majority acquisition by 'PAG.' With regulatory approvals secured, a leaner supervisory board is appointed to expedite commercial growth and value creation, aligning with our strategic priorities."
"PAG Private Equity" has a track record of active investments in the food sector, particularly in frozen foods. Recent acquisitions include leading Australian companies Patties and Vesco, complementing its existing consumer product portfolio encompassing retail franchises, chicken processing, and dairy production.
