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BNS - Rigas Miesnieks, Latvian subsidiary of Rakvere Lihakombinaat (Rakvere Meat Processing Company), on Thursday signed an agreement whereby it acquires majority shares in the Jelgavas Galas Kombinats meat processor in Latvia.
The agreement takes effect after regulatory approval.
Anne Mere, CEO of Rakvere Lihakombinaat, said the company's goal for 2010 was to substantially increase market share in Latvia and Lithuania, where it owns subsidiaries.
The consolidation of the two meat plants provides a good opportunity for increasing market share on the Latvian market in the future, Mere added.
Established in 1922, Rigas Miesnieks is a subsidiary of RLK since 1997. The companies are part of the Nordic meat group HK Scan since 1998.
Rigas Miesnieks is the leader on the Latvian meat products market with a market share of 23 percent.
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