The “Amber Beverage Group” (ABG) has received from Luminor the co-funding of EUR 3.6 million for extension of its operations. It enabled the biggest local producer of spirits to acquire the majority shareholding at one of the leading premium-brand liquor distributors in Australia “Think Spirits”.
The transaction was completed by the end of April, thus combining the strengths of most influential liquor manufacturers and distributors in both the Europe and Australia. At the same time, “Amber Beverage Group” is actively building its capacities in the Baltics and recently acquired one of the top liquor distributors in Estonia - “Remedia”.
“As our goal is to be a reliable counterpart to our customers both on the local Baltic market and abroad, we appreciate an opportunity to reinforce our long-term cooperation and support the “Amber Beverage Group” in implementation of its ambitious development strategy,” notes Jānis Buks, Luminor Management Board member, Head of Corporate Banking. “In addition to financial support Luminor provides the company with efficient financial asset management solutions, thus enabling implementation of its development plans both locally and globally. By using the Luminor Group account solution, virtually consolidated assets are accessible to all entities within the group, at the same time securing an independent cash flow and office management for every single company.”
Seymour Ferreira, CEO of “Amber Beverage Group”, reveals that the acquisition of company is an important milestone that reflects the ABG’s ambition to become a really global market player. “We are satisfied about a chance to make ourselves established in the important Australian and Asian markets. We are happy that the company’s founder and executive director Patrick Borg will join us with his outstanding team,” comments Ferreira.
„Amber Beverage Group” is an international manufacturer of wines and strong liquors with its head office in Luxembourg. Currently the group of entities employs more than 2,400 people by combining four manufacturing plants in Mexico, Russia, Latvia, and Estonia as well as the production distribution companies in all three Baltic States and the UK. The Group’s business profile includes retail trade in wines and strong alcoholic beverages, provision of the logistics services as well as exports to more than 170 countries throughout the world. ABG Group is proud to distribute more than 150 brands of strong liquors and wines owned by it, including brands like “Moskovskaya Vodka”, “Rīgas Melnais Balzams”, Rooster Rojo Tequila”, and “Cosmopolitan Dīva”.
Luminor’s goal is to become the best financial eco-system to its target customers and counterparts, i.e. companies and entrepreneurs that contribute to changes and development in their industries, are innovative, seek for new opportunities and at the same time boost the competitiveness of Latvia and the entire Baltics.