Thursday, April 16, 2026

Headlines

food industry

“Agrova Baltics” financial results exceed IPO targets; the company is considering a bond issue

For the Latvian food production company group AS Agrova Baltics (previously “APF Holdings”), 2025 was the most successful year in the company’s development history. According to unaudited data prepared by the company’s management, in 2025 net turnover reached 24.3 million euros (+92% compared to 2024), adjusted EBITDA – 9.2 million euros (+257%), while profit for the reporting period – 5.2 million euros. The past year […]

Maxima and Rimi suspected of a prohibited agreement

The Competition Council has identified indications of a prohibited agreement between the two largest food retail companies, which have apparently not acted independently and have mutually coordinated the sales prices of goods, negatively affecting consumer interests, the council reports. The Competition Council does not name the retailers, but the term “the two largest food retail companies” leaves not the slightest doubt that Maxima is under suspicion […]

The power of retailers over suppliers is decreasing

The Saeima’s Economic, Agricultural, Environmental and Regional Policy Committee has put forward amendments to the Unfair Commercial Practices Prohibition Law. The Committee intends to prohibit retailers from unilaterally imposing sanctions on suppliers and to stipulate that the payment term for fresh vegetables and eggs must not exceed 20 days. The law amendments were drafted after the Competition Council, in relation to the Unfair Commercial Practices Prohibition Law […]

At Riga Central Market, rental fees have increased by up to 80%; home producers and local growers will suffer the most, and product price increases will follow

At the beginning of 2026, rental fees have increased for traders at the Riga Central Market, leaving tenants puzzled, Inc. learned at the central market. Checking the prices on the market’s homepage, it can be seen that rental fees for various points of sale increase differently from this year; however, the biggest rise has affected the gastronomy pavilion, where now as much as 79% more has to be paid. The “Rīgas nami” price list shows that the pricing for various […]

Cēsis residents are allowed to take over the Valmiermuiža brewery

The Competition Council has approved the merger of SIA Valmiermuižas alus and AS Cēsu alus. With this decision, the accession of Valmiermuižas alus to the Cēsu alus group of companies will be completed within the next month, Valmiermuižas alus informs. It has already been reported that, for the Competition Council to make its decision, it needed the opinion of industry representatives. Taking into account the council’s decision, it can be concluded that the industry had no significant objections […]

Mushroom hunting in your office

Līga and Uģis Zemturis grow mushrooms in their office and then sell them both fresh and processed as a source of vitamins. Right there you can also enjoy a nine-course dinner paired with wines selected by Raimonds Tomsons. What do a financier and a model have in common? Mushrooms, of course! Fashion industry professional Līga Zemture and financier Uģis Zemturis are building a joint business – growing Japanese Eringi […]

Agrova International acquires an egg producer in the United Kingdom for 40 million

AS Agrova International, which is the parent company of AS APF Holdings (Nasdaq Riga: EGG), under the leadership of its founder Jurijs Adamovičs, has acquired 100% of the shares in the UK egg production and distribution company Sunrise Group, which unites Sunrise Poultry Farms and Sunrise Eggs Holdings. The total value of the transaction is 40 million euros, making this one of the largest foreign acquisition deals by Latvian companies in recent years. […]

The penalty imposed on Maxima has not yet disciplined the other retailers

The fine imposed by the Competition Council on the retailer Maxima Latvija for unfair practices has so far not affected retailers’ attitudes toward food product suppliers. This has been observed by the association Farmers’ Saeima, which had also not expected rapid changes in the relationship between suppliers and retail chains. “Maxima is not the only retail chain, and the fact that the fine was imposed on Maxima does not mean there is only one guilty party, […]

APF holdings will be transformed into Agrova Baltics

Joint stock company APF Holdings, which includes one of the largest poultry and egg production companies in Latvia, Alūksne Poultry Farm, will change its name to Agrova Baltics, according to the company’s announcement to the Nasdaq Riga exchange. The company has convened an extraordinary shareholders’ meeting, which will take place on December 10. The name change is related to the fact that its largest shareholder, Jurijs Adamovičs, at the beginning of the month established a new food production […]

The Competition Council imposes a fine of 1.8 million euros on a retailer – it is reportedly not RIMI

The Competition Council has imposed a fine of 1.8 million euros on one of the largest food retail companies for unfair trading practices. It is said not to be RIMI. For now, the CC is not providing more detailed information; this will be done at the press conference scheduled for Thursday, 6 November. RIMI public relations representative Inga Bite, in a conversation with Inc., denied that the fine had been imposed on this retail chain. Meanwhile, with Maxima’s public […]