One of the Baltic region’s largest corporate groups, MV GROUP’s Latvian subsidiary MV GROUP Distribution LV posted remarkable growth last year. In a contracting Latvian beverage and food market the company expanded revenue by more than 8 percent, bringing turnover tantalisingly close to the €100 million threshold. The advance was driven by an ever-growing portfolio of global and regional brands and sustained investment in customer relationships.

Over the year MV GROUP Distribution LV increased turnover from €86.4 million to €93.7 million—an 8.4 percent uplift. Among individual categories, cognac surged by 17 percent in volume and 19 percent in value, vodka by 20 percent and 19 percent, and sparkling wine by 21 percent and 17 percent. During the same period the company remitted 71,1 million euros in taxes to the Latvian budget.

CEO Oļegs Sokolovs notes that sustaining growth in a shrinking Latvian market demands creativity, swift adaptation to shifting consumer habits, and steadfast team cohesion.

“Year after year we maintain a stable growth tempo, and the past twelve months were no exception—indeed, they were historically strong in both revenue and brand portfolio,” O. Sokolovs observes. “Achieving this in a market facing headwinds is no small feat, yet we succeeded thanks to our team’s vigour in broadening the assortment and the trust we have earned from partners and consumers alike.”

MV GROUP’s Experience Proved Invaluable

Negotiations completed last year enabled MV GROUP Distribution LV to enrich its portfolio with renowned names ranging from alcoholic and energy drinks to snacks, confectionery, and pet food, thereby fortifying its market position and broadening its offer to diverse consumer segments.

Belonging to an international group confers clear advantages, O. Sokolovs says: scale, expertise, and a proven track record. “Operating across Lithuania, Latvia, Estonia and Poland allows us to transfer successful collaborations from one market to another. The confidence we have built enabled us not only to enlarge our portfolio but also to introduce entirely new brands to Latvia,” he explains.

In 2024 the company finalised negotiations to represent the global energy-drink leader Red Bull, with which MV GROUP’s Lithuanian distribution company has cooperated for more than twenty years. The strong-spirits segment likewise advanced when an agreement was reached with the world-wide producer Global Spirits, adding two of the planet’s most popular vodkas, Khortitsa and Morosha.

Sparkling-wine enthusiasts were treated to Piper-Heidsieck and Charles-Heidsieck Champagnes—coveted by connoisseurs and collectors and among the most celebrated French brands. Cooperation in all three Baltic countries was also established with Askaneli, one of Georgia’s most renowned houses, famed for its broad range of wines and spirits recognised far beyond its homeland.

Expansion did not stop at beverages. After participating in tenders and negotiations throughout 2024, MV GROUP Distribution LV officially secured distribution rights for both Chick&Go—innovative dried‑chicken slices from global food producer MHP that quell hunger while delivering protein—and Zozole For Fun confectionery from Polish manufacturer Mieszko, broadening the snack and sweets choices available to Latvian consumers.

Responding to growing concern for animal welfare, group-wide cooperation was launched with pet-food producer Kormotech, making its Club4Paw and MyLove lines available to Latvian pet owners.

Growth Momentum to Be Maintained

“We see continued consumer segmentation and declining HORECA consumption. Our strategy of bringing a rich palette of international brands closer to Latvian households through an expanded distribution network is therefore vindicated, and this year I can promise several premieres that will delight lovers of premium tastes in both beverages and foods,” O. Sokolovs says.

Despite geopolitical uncertainty and the stagnation weighing on Latvia’s economy and consumer behaviour, the company plans to sustain a comparable growth rate this year.

“Our performance proves that with the right strategy and a professional team it is possible to sidestep the negative trends besetting the market. This is doubly inspiring and galvanises us to prioritise team strengthening in pursuit of positive business results,” he concludes.