
On 31 January 2025 year was concluded the deal in the framework of the Estonian enterprise Apollo Group, the largest shareholder AS LIDO, increased its holding in the capital of the company to 96 percent,
by purchasing an additional 21 percent of shares, RusTVNET reported. Lido in Tallinn. Photo illustrative. Photo: Eero Vabamägi
On January 31 January 2025 year was concluded the deal within the framework of the Estonian enterprise Apollo Group, the largest shareholder AS LIDO, increased its holding in the capital
of the company to 96 percent, by purchasing an additional 21 percent of shares, reported RusTVNET.
LIDO LIDO founder Gunnar Kirsons is retaining four percent of the shareholding and withdrawing from the council of the public release LIDO.
“We highly value the contribution of Mr. Kearsons to the establishment and development of the company, therefore are happy that he will continue as a shareholder. Our goal is to keep and develop the LIDO brand, based on its unique values and traditions, which are so important to the Latvian community. While doing so, we plan to expand the company’s capabilities in international markets. We are confident that in cooperation with the experienced, professional and committed LIDO team, which is the foundation of the company, we will be able to successfully realize the set objectives and open new development opportunities “, said the Chairman of the Council company Wendelin.
LIDO LIDO Management Board Chairwoman Rita Auzinia confirms that the changes will not affect substanceThe company – it will continue the started course, moving towards growth: “LIDO is and will remain the brand created in Latvia, with stable values of the enterprise. We will continue to reserve the traditions of Latvian cuisine and provide stable jobs in almost 1000 in Latvia and in a total of 1200 in Latvia and Estonia. We are decided not only to strengthen our position in the local market, but also to develop the company’s activities in new markets.”
From 31 January 96% of the capital of the Company is owned Treeland – a subsidiary of Estonian Company Apollo Group, 4% owned by SIA K.E. Projekti, the sole owner of which is Gunar Kirsons. The true beneficiary of LIDO on the basis of ownershipthroughtheEstoniancompanyMMGrupp isEstonianentrepreneurMargusLinnamäe.
ApolloGroup operatesinEstonia,Latvia,LithuaniaandFinlandwithannualturnover220millioneuros.InLatvia,in addition toLIDO,ApolloGroup knownthroughthebrandsApollokino,KFC,MySushi,Vapiano andO’Learys.