(Latvian Public Broadcasting)
One of Latvia's best-known brands of beer is being bought by a Finnish brewing group that already has another popular Latvian beer in its portfolio.
The 'Piebalgas' beer brand will join 'Cēsu' beer as one of the holdings of Finland's Olvi group. It will continue to operate as a separate brewery under Cēsu beer's direction, according to Jānis Dūklavs, the founder of SIA “Piebalgas Alus”, who also happens to be a longtime Saeima deputy and former Agriculture Minister.
"I am convinced that the experience of Cēsu beer and Olvi Group's beverage production and wide market reach will ensure even better accessibility for the existing fans of Piebalgas beer, as well as help to make new friends and customers," said Dūklavs of the sale. The value of the deal was not disclosed.