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JSC “Cēsu alus” and LTD “Piebalgas alus” participants concludes a transaction that will bring a new development level for “Piebalgas alus”

Participants of the brewery “Piebalgas alus” have concluded a transaction on the sale of the company’s shares to the brewery JSC “Cēsu alus”. The investment of JSC “Cēsu alus” as well as widened distribution opportunities will allow “Piebalgas alus” to become more accessible to beer lovers in all sales points and continue its development, creating unique beer varieties in the Latvian traditional and craft beer segments. “Piebalgas alus” will operate as a separate brewery, continuing to offer the Latvian beer market their traditional beer brewed by using open fermentation technology and their own grown unique yeast.

Jānis Dūklavs, the founder of LTD “Piebalgas alus”: “Over 30 years, the brewery “Piebalgas alus” has acquired a stable fan base in the Latvian market thanks to the traditional Latvian taste and quality of the product. To take a further step toward a future breakthrough, the brewery’s founders and shareholders have decided to attract a new strategic investor. I am convinced that the JSC “Cēsu alus” and “Olvi Group” experience of producing beverages and their extensive market will provide even better access to existing fans of “Piebalgs beers” and will help to make new friends and customers. An important stage in the life of the company and its founders will come to an end. I am grateful for the work done over the years to the entire team, especially to long-term specialists and employees, as well as to many cooperation partners. I wish the company continued successful development in the long run!”

Eva Sietiņsone, Chairman of the Board, JSC “Cēsu alus”: “We greatly appreciate the unique experience of “Piebalgas alus” in brewing beer and will certainly maintain it in the future. It will be a new opportunity for us as a company to provide an even more varied  supply of beer in the future. We also have an important role to play in the development of our region, Vidzeme, its economic growth and job creation. Therefore, it is only natural that we decided to expand the development of our business within our region.”

“Piebalgas alus” is popular among Latvian beer lovers. Its beer range includes six types of beer: Piebalgas alus, Mednieku alus, Jubilejas alus, Senču alus, Tumšais lux alus and Svētku alus.

A report has now been submitted to the Competition Council and the conclusion of the transaction is planned after its review and approval by the Competition Council. The merger of JSC “Cēsu alus” and Ltd “Piebalgas alus” will be completed after reviewing the report and receiving the merger permit from the Competition Council.

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