Vilvi Group Injects €50 Million into Cheese Production Expansion in Latvia
Source: The DairyNews
Vilvi Group, a prominent player in dairy processing across the Baltic States, is embarking on a significant expansion of its cheese production capabilities in Bauska, Latvia, with a hefty investment of approximately €50 million.
With a robust export share hovering around 90%, Vilvi Group primarily targets European Union nations while also tapping into markets across Asia and beyond.
The expansion initiative is being financed through a blend of internal capital and loans facilitated by Citadele Bank. Moreover, the Latvian government, via the Latvian State Development Finance Institution, is extending €8.5 million in support of this endeavor.
Anticipated for completion by 2027, the project not only aims to bolster Vilvi Group's production capacity but also promises to generate fresh employment opportunities.
In a related move, Vilkyskiu Pienine, the parent company of Vilvi Group, made headlines last year by acquiring the remaining 30% stake in Baltic Dairy Board, further solidifying its position in the regional dairy landscape.
The expansion initiative is being financed through a blend of internal capital and loans facilitated by Citadele Bank. Moreover, the Latvian government, via the Latvian State Development Finance Institution, is extending €8.5 million in support of this endeavor.
Anticipated for completion by 2027, the project not only aims to bolster Vilvi Group's production capacity but also promises to generate fresh employment opportunities.
In a related move, Vilkyskiu Pienine, the parent company of Vilvi Group, made headlines last year by acquiring the remaining 30% stake in Baltic Dairy Board, further solidifying its position in the regional dairy landscape.
