With its strongest results in company history, Valmiermuižas alus has agreed to join Cēsu alus, Latvia’s oldest and largest brewery. The deal, which still requires approval from the Competition Council, foresees the transfer of all shares of Valmiermuižas to Cēsu alus, a company majority-owned by Finland’s Olvi (99.88%).
According to founder Aigars Ruņģis, Valmiermuiža achieved a turnover above EUR 10 million (USD 11 million) in 2024 and has grown by another 5% to EUR 6.7 million (USD 7.3 million) in the first seven months of 2025. Operating profit quadrupled, driven by strong sales of soft drinks (+20%) and non-alcoholic beer (+40%), while exports increased 20% overall and draft beer sales in foreign bars rose by 50%. Ruņģis highlighted that, despite record results, independent brewers face an unfriendly business environment in Europe, with Latvia ranking last in the EU for beer production volume.
Evija Grīnberga, chairwoman of Cēsu alus, stressed that Valmiermuiža will continue brewing in its historical manor site, maintaining recipes and quality standards, while both breweries combine strengths to expand in export markets. Ruņģis will remain involved, ensuring continuity in production and cultural projects such as the brewery’s kitchen, beer garden, and visitor programs.
Valmiermuižas was founded in 2005 and until now was owned by Valmiermuižas Ieguldījumu Fonds, in which Ruņģis held 60%, Austria’s ILAG 24% and MVF40 16%. Cēsu alus, dating back to 1590, reported a turnover of EUR 101.1 million (USD 111 million) in 2024 with EUR 3.6 million (USD 4 million) profit and also controls Piebalgas alus since 2021. The acquisition underscores consolidation in the Latvian beer market, strengthening Cēsu alus as a leading regional beverage group.
