VILVI GROUP Subsidiary SIA "Baltic Dairy Board" Boosts Authorized Capital for Expansion
Source: The DairyNews
AB "Vilkyskiu pieninė," the parent company of SIA "Baltic Dairy Board," has announced a significant increase in the authorized capital of its subsidiary. Effective March 26, 2024, the authorized capital of SIA "Baltic Dairy Board" has been boosted by EUR 10,070,000, reaching a total of EUR 10,847,778.
This capital infusion aligns with a strategic move towards expanding cheese production capacity in Bauska, Latvia, facilitated by a EUR 50 million investment from VILVI GROUP. The ambitious project, scheduled for completion by 2027, represents a joint endeavor leveraging both internal resources and financing from Citadele Bank, along with support from the Latvian State Development Finance Institution.
The increased authorized capital underscores VILVI GROUP's commitment to driving growth and innovation within its dairy operations, positioning SIA "Baltic Dairy Board" as a key player in the region's dairy industry. With a clear focus on expansion and modernization, this investment lays the foundation for a promising future in cheese production and strengthens the Group's presence in the Baltic market.
The increased authorized capital underscores VILVI GROUP's commitment to driving growth and innovation within its dairy operations, positioning SIA "Baltic Dairy Board" as a key player in the region's dairy industry. With a clear focus on expansion and modernization, this investment lays the foundation for a promising future in cheese production and strengthens the Group's presence in the Baltic market.
