Friday, June 19, 2026

Headlines

corporate expansion

As it expands, Grenardi begins operations in the Czech Republic

Latvian jewelry retailer Grenardi Group continues its expansion outside the Baltics. By investing almost 3.5 million euros, the company is entering the Czech market, opening two jewelry stores on the main shopping street in Prague, the company reports. On November 14, a shop-in-shop format store will open its doors, combining both the globally recognized Italian jewelry brand Damiani salon and the already familiar Grenardi for Baltic customers with its wide […]

“Delska” is building the most powerful infrastructure in the region

At a time when the volume of company data is literally exploding, IT continuity and secure data storage are becoming a critical prerequisite for business growth. Latvian data center operator “Delska” (formerly DEAC), which has recently attracted substantial investments from a Luxembourg fund, is responding to this demand by building the most powerful data center in the Baltics. The new data center in Riga, on Latgales Street with a total capacity of 10 MW, will become […]

Financial Times ranks Eleving Group 57th among the fastest-growing European companies of the last decade

Eleving Group, an international financial technology company listed on the Frankfurt and Riga stock exchanges, is ranked 57th in the overall “Europe’s Long-Term Growth Champions 2025” rating and 1st in the financial technology, financial services, and insurance category. Eleving Group is the only company from Latvia included in the list. “Eleving Group is currently operating in 17 countries worldwide. Over the past decade, we have strategically expanded […]

Low-cost private aviation

To be able to offer elite, private aviation to a wider audience, JSX co-founder and CEO Alex Wilcox has to stay one step ahead of federal regulations. As if it were an awkward joke by his grumpy character from the series Curb Your Enthusiasm, writer and actor Larry David has arrived at the wrong airport – Los Angeles instead of Burbank. “Wait a minute!” says the airline JSX co-founder and […]

The largest shareholder of APF Holdings is establishing a new international food production group of companies, Agrova International

APF Holdings (hereinafter – APF), which includes one of the largest poultry and egg production companies in Latvia, SIA Alūksnes putnu ferma, whose largest shareholder is Jurijs Adamovičs, has established a new food production group, Agrova International, with the aim of becoming a rapidly growing European-level producer of poultry, eggs, and innovative egg products. Agrova International has taken over from Jurijs Adamovičs […]

Latvian forests owned by Swedes are being bought up by other Swedes – a company linked to IKEA

The investment and forest management company Ingka Investments has reached an agreement with Sweden’s largest forest owners’ association, Sodra, on the acquisition of 135,000 hectares of land in Latvia and 18,000 hectares in Estonia. Approximately 89% of this land consists of forest areas. The completion of the transaction is still subject to the approval of the relevant supervisory authorities. Ingka Investments is part of Ingka, the largest store operator of IKEA […]

Nestlé will sell Pols ice cream and other popular ice cream brands

Food Union has agreed on the sale of its ice cream business. The new owner will be the international ice cream manufacturer Froneri, which is owned by Nestlé and PAI Partners. The value of the transaction has not been disclosed and must still be approved by the Competition Council. The proposed transaction will include only the ice cream business in Latvia which, after being separated from the dairy products business, will be established as a separate legal entity. It is planned that the transaction will be completed in the coming […]

FlyCap will invest 42 million euros in growing companies

With the achievement of the private investment attraction target, the venture capital fund manager FlyCap has started financing companies. After the completion of the first subscription stage, the total size of the fund is 42 million euros, which over the next five years will be invested in promising and growing Baltic companies. The fund’s financing consists of 24.8 million euros of public funding from the European Regional Development Fund and ALTUM, as well as […]

5.4 million euros will be invested in expanding the Spilva production plant

The food production company Orkla Latvia will invest 5.4 million euros in the sauces and ready-made meals brand Spilva production plant in Spilve, Babīte. The extensive investment plan envisages expanding the production building and modernizing the main production lines in order to ensure a rational production flow and automation possibilities, as well as to increase production speed and reduce staff workload. “Spilva’s most popular product types – mayonnaises and sauces […]

Valmiermuiža beer gives in: will be sold to Cēsu alus

At the end of August, the owner of Valmiermuiža Beer, Aigars Ruņģis, issued a statement in which, complaining about unfavorable conditions for the small brewery business, he questioned the usefulness of investing in development. Now the owner announces that he is ready to join Cēsu alus, which belongs to Finns. At the end of August, the owner of Valmiermuiža Beer, Aigars Ruņģis, issued a statement in which, complaining about unfavorable conditions for the small brewery business, he questioned the usefulness of investing in development. Now the owner […]