In August 2010, one of the largest agricultural company in Vidzeme Palsa Ltd was acquired by the joint-stock company Eves Agro. Even though the company experienced a drop in turnover by 30% and the drop in net profit was 54%, investors have full confidence in the experienced industry professional Mr. Aivis Aizsilnieks that he will be able to achieve and exceed previous years’ results.

Mr. Aivis Aizsilnieks has accumulated significant industry experience by managing the joint-stock company Jaunpils Pienotava as well as the Latvia University of Agriculture Training and Research centre in Vecauce. He admits that undertaking the charge of a new company is significant challenge; however he is confident that he will be able in foreseeable future to increase profitability, optimize operational performance and introduce modern technologies. Regarding company’s potential projects, he notes the development of a new milk farm and possible development of bio-energy given it is economically feasible.

Private investors are represented by Eventus Corporate Finance providing strategic advisory during all stages of the deal. Even though the deal amount is not disclosed, partner Mr. Sandris Rūgums comments that this transaction marks our role in Latvian Private Banking market as the deal was financed by wealthy private individuals who are interested in development of the agriculture sector in Latvia.