Aspo Groups Leipurin Ltd Grows in Latvia
Leipurin SIA, a subsidiary of Aspo Group's Leipurin Ltd, has acquired the entire share capital of the Latvian company Raugs un citas preces SIA (RCP). RCP sells and markets ingredients for the bakery and food industry in Latvia. The company was established in 1995 and employs 30 people. Its annual turnover is about EUR 5 million. The transaction will have no significant impact on earnings for Aspo.
"Our Leipurin unit in Latvia was founded in 1999, after which we have achieved a stable position as a partner for the country's bakery and food industry. The transaction now concluded will give us a strong position in Latvia's bakery industry and provides Leipurin with a strong foundation on which to develop its customer service role and logistics throughout the entire Baltic region," says Leipurin's Managing Director, Matti Väänänen.
"By acquiring RCP, we can combine our strong knowhow with the expertise of a solid local company. Also in Latvia, we act as a partner for bakery customers in both production and product development. We not only provide them with ingredients, machinery and equipment but also, according to our overall concept, develop the tastes and structures of customer products as well as competence related to production and product developments. Our test bakery is a center for product development and training", says Matti Väänänen.
"In line with its strategy, Leipurin has purposefully expanded its presence in the Baltic Sea region and the Eastern markets. In 2009, we expanded our business operations into Ukraine and strengthened our foothold in Russia by establishing ourselves in Siberia. The Eastern markets offer us excellent opportunities to develop our food processing operations, in particular," says Aspo's CEO, Aki Ojanen.
About Leipurin Ltd:
Leipurin: Leipurin Ltd, part of Aspo Group, serves the bakery and food industry by supplying ingredients, production machinery and production lines, as well as related expertise. The company has operations in the Baltic Sea Region and CIS countries. Turnover in January-September 2009 totaled EUR 72 million. www.leipurin.com
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