Although Latvia’s alcoholic beverages market is shrinking, MV GROUP Distribution LV closed 2025 with record-breaking results – the company continued to grow by consistently expanding its portfolio of global brands and strengthening its position across categories.

Last year, the company’s turnover reached EUR 97.6 million (including excise duty), marking a 4% increase compared to the previous year. Meanwhile, the company’s pre-tax net profit increased by 24% to €1.5 million. This is not the first year of growth – the company has been expanding steadily for five consecutive years, delivering record results and systematically reinforcing its position in the Latvian market.

According to Oļegs Sokolovs, CEO of MV GROUP Distribution LV, these results are no coincidence.

“Our strength lies in our ability to develop multiple categories, maintain a broad portfolio and ensure product availability across the entire market. Behind these decisions are always people – our team, its competencies and the work environment we create are among the most important drivers of success. Our partnerships – both long-standing and newly established – also play a significant role, enabling consistent growth and sustainable results,” says O. Sokolovs.

Red Bull and other names strengthening the portfolio

One of the most notable moves by MV GROUP Distribution LV was the partnership launched in early 2025 with global energy drink leader Red Bull. The long-standing experience of the MV GROUP, of which the Latvian company is part, in working with this brand in Lithuania enabled a successful expansion of the partnership into Latvia, where Red Bull achieved its best-ever performance in the energy drinks category.

As it expands, the company is strengthening partnerships not only locally but also at a regional level. The portfolio has been enriched with products from Georgian producer Askaneli, French champagne houses Piper-Heidsieck and Charles Heidsieck, and a new partnership with pet food manufacturer Kormotech. Some partnerships are developed across multiple Baltic markets, while in other cases successful collaboration models are transferred from one market to another.

Since the beginning of 2026, the company has further strengthened its portfolio by launching a partnership with Suntory Global Spirits. Its portfolio includes globally recognized brands such as bourbons Jim Beam and Maker’s Mark, Japanese gin Roku, and single malt Scotch whiskies Laphroaig and Bowmore and other brands.

Growth continues despite market pressure

According to O. Sokolovs, the business environment in Latvia remains dynamic and requires rapid decision-making. Many categories of alcoholic beverages are in decline, while some product groups have faced significant regulatory changes. Restrictions introduced in retail – shorter alcohol sales hours and reduced promotional opportunities – are intensifying competition among distribution companies.

In addition to beverage categories, other portfolio segments have also been affected. The sale of electronic cigarettes and certain nicotine products has been banned in the country, while the cigarette category has also declined.

Despite these developments, own brands of the MV GROUP continue to be among the fastest growing. Sales of sparkling wine Alita increased by 22% year-on-year, MIX cocktails grew by 49%, while Stumbras vodka also recorded growth and captured a significant market share, particularly in the in flavoured vodka segment.

“We must continuously review our operating model – assess pricing, look for more efficient solutions and adapt to a changing environment. This has become part of our daily work. Consumer behaviour in Latvia remains largely unchanged – buyers actively seek the best deals, so ensuring wide availability and competitive pricing is key. We aim to make our products accessible wherever customers are looking for them,” notes O. Sokolovs.

Soon, the company plans to further strengthen its market position, expand its portfolio, invest in technology and increase operational efficiency.

“We aim to stay one step ahead – to follow global trends, strengthen professionalism and operate even more actively in the market. We see many opportunities we can leverage,” says the company’s CEO”.