Terra Food denies information on acquisition of plant in Latvia

14:21, 11.03.2016 1 min read

Terra Food, a large Ukrainian industrial and trade holding, has denied information that the group has started producing cheese in Latvia.

"Officially we report that today Terra Food LLC has no relation to SIA Latvian Dairy. Terra Food LLC did not carry out transactions to acquire DK Daugava milk processing plant from [Russia's] Gogol-Mogol," the company's press service reported.

As reported, earlier Latvian media reported that Latvian Dairy with Ukrainian capital started working at the former factory of DK Daugava. According to the reports, Latvian Dairy was a subsidiary of Ukraine's Terra Food that was founded when in October 2015 Ukrainian investors bought DK Daugava from Gogol-Mogol, to which founder and former owner of the plant Aigars Vaivars transferred his shares.

Terra Food, founded in 1999, includes three business directions – milk, meat and agro-industrial.