AS Rigas Piena Kombinats – the Biggest Food Producer in Latvia

AS Rigas piena kombinats, part of the dairy production company Food Union, is the biggest food producer in Latvia, according to the TOP 500 Latvian companies of 2013 compiled by the business daily Dienas Bizness. Annual turnover of AS Rigas piena kombinats in 2013 exceeded 115 million euro – 15% growth on 2012 thus the company moved up from the 7th to the 1st position in the food producers’ ranking.

“Thanks to the 3.5 million euro investment in modernizing the production unit and new product development as well as successful export strategy to Russia and CIS countries the company managed to set an annual turnover record in 2013 – over 115 million euro. In the course of this period we kept developing our existing product portfolio and introducing brand new products: we introduced 24 new kinds of ice cream, presented RASA and Limbazu piens cream cheese, improved milk drink Rasens and freshened up Lakto fermented milk product line,” Normunds Stanevics (Normunds Staņēvičs), AS Rigas piena kombinats (Food Union) Chairman of the Board, says.
The main export markets of AS Rigas piena kombinats in 2013 were Russia (41% of exports), Azerbaijan (20%), Belgium (16%), Lithuania and Estonia (9% together), and the Netherlands (6%), Germany (4%), Kazakhstan (1.5%), Denmark (1.2%). The markets of Kazakhstan and Belarus were recaptured in 2013.

The overall export volume of the company in 2013 reached 53.5 million euro – 37% growth on 2012. In 2013 exports accounted for 46% of the overall turnover of the company.