Cēsu Alus group to acquire 100% of Valmiermuižas Alus shares, brewery informs LETA.

Valmiermuiža, a craft brewery established in 2005, has a share capital of EUR 1.397 million. It is currently fully owned by Valmiermuižas Investment Fund, in which Aigars Ruņģis holds a 60% stake, Austrian investment fund Industrieliegenschaftenverwaltung AG owns 24%, and Austria-registered MVF40 Beteiligungs GmbH holds 16%.

The company stated that the required report will be submitted to the Competition Council, and the acquisition will be finalized once regulatory approval is obtained.

The transaction price has not been disclosed.

Until then, Valmiermuižas Alus will continue producing and supplying beer and non-alcoholic beverages under the management of its current co-owner, Aigars Ruņģis. Afterwards, Ruņģis will advise the new management to ensure that Valmiermuiža’s recipes are preserved.

According to the brewery, the purpose of the deal is to continue brewing craft beer in Valmiermuiža while strengthening the export potential of the Valmiermuiža brand.

“Although this has been the best year ever for Valmiermuižas Alus, we are aware that we are operating in an unfriendly business environment for small and independent brewers in Europe. Last year Latvia ranked last in the European Union in beer production, making it very difficult for Latvian brewers to grow, invest, and compete at the European level,” said Ruņģis.

In 2024, Valmiermuižas Alus posted a turnover of EUR 10.018 million and a profit of EUR 65,858.

Cēsu Alus, meanwhile, recorded a turnover of EUR 101.133 million in 2024, down 1.1% year-on-year, while profit increased by 4.4% to EUR 3.564 million.

Cēsu Alus, established in 1991, has a share capital of EUR 8.31 million and is majority owned (99.88%) by the Finnish group Olvi.

Source: BNS

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