On 27 August, a time capsule was ceremonially embedded in the foundations of “LIDO māja”. “LIDO māja” will be a major production, logistics and warehouse complex for AS LIDO, developed by transforming part of the historic Riga Radiotehnika factory building at 3D Kurzemes Prospekts in Riga. More than €30 million is planned to be invested in the project.
“LIDO māja” will become a key hub for the company’s future development and represents the logical next step in LIDO’s growth. The company has exhausted the development potential of its existing premises, which have reached their maximum production capacity. The new complex will bring production together with the related logistics and warehousing infrastructure in a single location, while enabling the introduction of modern production equipment and technologies.
This will allow LIDO to significantly increase production capacity, expand its product range, including packaged products and ready-made meals, supply its existing restaurant network more efficiently and support its further expansion. Product exports will be one of LIDO’s key future development areas, with increased production capacity opening up broader opportunities in foreign markets. The new complex will also house the administration of AS LIDO.
Speakers at the ceremony included Minister of Economics Viktors Valainis, Deputy Chairman of Riga City Council Māris Sprindžuks, Apollo Group Management Board Member Toomas Tiivel, LIDO Chairwoman of the Management Board Rita Auziņa, and SIA Aimasa Finance Director Iveta Vucena.
The time capsule contained wishes from LIDO employees for the company’s future and future generations, symbolically demonstrating that the foundations of “LIDO māja” are built on the company’s most important pillar – its people, whose work has made LIDO the company it is today and will shape its future growth.
“LIDO māja is a strong demonstration that Latvian companies are ready to invest, modernise production and think on a much larger scale. A new production facility with a capacity of up to 100 tonnes per day means not only a more efficient company, but also greater competitiveness and export potential for Latvia’s food industry. These are exactly the kinds of investments we need – in companies that see their future in Latvia, create value here and are ready to compete internationally,” emphasises Minister of Economics Viktors Valainis.
Chairman of the Supervisory Board of LIDO Ivars Vendelins said: “The transformation of the historic Riga Radiotehnika factory site is a strategic step that extends beyond the boundaries of a single company. This long-term investment provides a solid foundation for the future growth of the LIDO Group and a strong impetus for the development of the Imanta neighbourhood and Riga’s urban environment. Our goal is to create a modern, multifunctional environment where historical heritage meets contemporary business and infrastructure solutions.”
“We have been dreaming for almost ten years about a building that would bring all of the company’s strategically important functions under one roof. This is a historic moment demonstrating that our vision is becoming reality and that LIDO will have a home of its own! It will play an essential role in the company’s future development and growth, enabling LIDO to increase production capacity and expand exports across the Baltics and Scandinavia. I am proud of our team and partners who are helping us implement this project and driving the company towards new heights,” said Rita Auziņa, Chairwoman of the Management Board of LIDO.
The future development will have a total area of 16,000 m². The building is scheduled for completion and commissioning in spring 2028.
In connection with the project, AS LIDO registered SIA “LIDO māja” in February this year, separating production into a dedicated subsidiary. It will provide centralised production for all LIDO companies and will form an integral part of the LIDO Group.
“LIDO māja” will form part of a new multifunctional development complex in Imanta, which will also include entertainment, retail and service infrastructure covering 88,000 m². The owners and developers of the project are SIA KP4 and SIA KP3, with which LIDO has signed a long-term 20-year lease agreement. Both companies are owned by Estonian entrepreneur Ivars Vendelins.
