September 30, 2022
"Mantinga" acquired a company in Latvia, widely known as “Pedro” product producer
“Mantinga”, the largest producer of bread, snacks and frozen products in the Baltic States, acquired SIA “Fresh Food Production”, operating in Latvia, from “Orkla Latvija” company. The acquired company specializes in the convenience food, such as sandwich, burgers, panini, etc.
"Acquiring a company in Latvia directly correlates with our strategic direction to grow efficiently and sustainably. We have accumulated almost 25 years of experience in the field of food production and aim to grow in a market segment whose popularity has been rising for years. This summer fixates a record for snacks, especially sandwiches, and they are the main product of the acquired company. The synergistic activity of the two factories will allow us to better meet customer expectations and expand the segment of chilled products,” – CEO of group of companies Mantas Agentas.
According to the CEO, Latvia is the company's largest export market - about 20 percent of “Mantinga” total exports come here. Most of it is frozen products - muffins, bread, doughnuts, and almost a third is made up of sandwiches. Latvia is the second after Lithuania where the largest amount of sandwiches produced by "Mantinga", known under the "Food on foot" brand, are sold. This summer, about 2 million sandwiches were produced per month.
"Convenience food production is a growing business, however, the market is dominated by private label products. Due to the specifics of the market, this is the only business direction where "Orkla Latvija" mainly fulfilled the function of a manufacturer for other brands. Development of strong own product brands in the areas of our core competence is the key priority for “Orkla Latvija”, therefore, it was decided to transfer this part of the business to the hands of professionals in the relevant category," explains Toms Didrihsons, Chairman of the Board of "Orkla Latvija".
Acquired company SIA "Fresh Food Production" is located in Riga. The company has around 60 employees. All employees will be retained and production activities will be continued to deliver high quality products for clients in Latvia.
"Mantinga Group" is a company managing bread, snacks and frozen products companies. About 1600 employees work in all group of companies in Lithuania, in 3 foreign countries. In 1998, the group was one of the first to offer frozen bread products to the market. Currently, the “Mantinga” range includes more than 1000 products, they are manufactured in 3 factories and exported to almost 40 countries around the world.