PRESS RELEASE: Dimedium Group acquires two companies in Latvia
AS Dimedium Group OÜ, a wholesaler of veterinary medicines, animal, aquaculture, and pet products, has acquired two companies in Latvia – the Kurzeme CMAS facilities and Latgale CMAS. These companies are involved in the production and sales of breeding material for cattle and pigs, offering insemination services, and analyzing milk samples. The activities and team of Kurzeme CMAS have been integrated into AS Dimedium Latvija, while Latgale CMAS, which owns two milk laboratories, will continue to operate as a separate company.
As a result of the transaction, the subsidiaries of Dimedium Group now engage in cattle genetics and reproduction in Estonia, Latvia, and Lithuania, offering solutions from the world’s best breeding companies. The achieved position allows the company to offer products and services of the highest level to its customers, highlighting the company's growth ambitions and capability in the market.
The transaction was financed in the form of bonds by LHV pension funds. The investment will be reflected in the portfolios of LHV L and LHV M pension funds. "The ability to seize investment opportunities is a strong characteristic of a successful company. Although, as pension funds, we have primarily sought flexible investment opportunities from around the world, companies with strong growth ambitions like Dimedium continue to be a valuable addition to the pension funds' investment portfolio," said Romet Enok, the fund manager responsible for bond investments at LHV pension funds.
Dimedium is a wholesaler of livestock, veterinary, aquaculture, and pet products. The company operates under the motto "Full animal health." In 2023, Dimedium Group's turnover was approximately 22 million euros, with about 60% in Estonia and the remainder in Latvia and Lithuania.
AS LHV Varahaldus, managing LHV pension funds, is a subsidiary of the largest domestic financial conglomerate and capital provider, LHV Group. LHV funds have nearly 121,000 II pillar and about 35,000 III pillar clients, with assets under management of nearly 1.4 billion euros.
