March, 24. 2006
Altia Corporation has acquired Modil Plus ADV in Latvia (24/3/2006)
Altia Corporation has acquired the Latvian company Mobil Plus ADV, one of the leading companies in the Latvian alcoholic beverage market. In terms of volumes, Mobil Plus ADV is the second largest company within wines and spirits in Latvia. The turnover of the company in 2005 was over 24 million euros (including excise tax) and it has over 100 employees.
The vision of Altia Corporation is to become the leading alcoholic beverage company in the Nordic and Baltic countries within three years. - This acquisition is a clear step towards that vision, says Leena Saarinen, CEO and President of Altia Corporation.
- Until now Altia Corporation has operated in the Nordic countries and Estonia. The acquisition of Mobil Plus ADV will substantially strengthen our position in the Baltic area.
Mobil Plus ADV, established in 1995, is present in all Latvian retail chains and in all regional independent players. The company's portfolio includes a broad selection of international brands as well as strong own brands.
The owners of Mobil Plus ADV see the transaction as the right move for the company at this stage. We are certain that Altia Corporation will be the best owner for Mobil Plus ADV in order to further grow the business of Mobil Plus ADV in Latvia. I am convinced that all clients will get even better service as a consequence of this transaction. I also believe that our employees will have better opportunities to develop within an international corporation, says Lev Lisagor, Board Member and one of the former owners. Mr. Lisagor and Mr. Konstantin Popik will both continue in their management positions to secure a smooth integration with Altia Corporation.
Altia Corporation is an international multi-beverage company operating in the Nordic and Baltic countries with focus on wines and spirits. The company represents international quality brands from all over the world. Altia Corporation has also a strong portfolio of proprietary brands. The Finnish State is the sole owner of the company. Turnover amounts to approximately 425 million euros.
For further information:
Outi Sivén Lev Lisagor
Senior Vice President, Baltic Board Member
Altia Corporation Mobil Plus ADV
tel. +372 5 154 558 tel. + 37 1 7 628895
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