Latvia’s Nordic Partners Acquires 51% of Nordic Partners Ltd.

Latvian-owned Nordic Partners has announced the acquisition of Nordic Partners Ltd., an international holding company with assets in the retail food, logistics, and commercial real estate sectors. The deal to acquire 51% of the holding company now puts dozens local and regional business and brands in the hands of Latvian ownership.

Nordic Partners has undergone structural changes to accommodate the acquisition, dividing its operations into three subsidiaries: Nordic Partners Food Limited, Nordic Partners Properties Limited and Nordic Partners Land Limited.

Among the holdings involved in the deal are Latvian food companies Gutta, Laima, and Staburadze; the SIA Saldumu Tirdzniecîba retail chain; logistics company SIA NP Logistics; and a handful of industrial parks with their related businesses. Nordic Partners plans no changes in the current management or Board structures of any of the holding’s companies. The deal must now go before Latvia’s Competition Council for approval.