Aigars Ruņģis: I'm Not Going to Retire, I'll Look for My Next "Valmiermuiža"
Former Valmiermuižas alus owner Aigars Ruņģis says the beer industry in Latvia is overregulated and he sees no new business opportunities there, but plans to invest in food and beverage production to create products competitive in Europe.
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Aigars Ruņģis, the former owner of Valmiermuižas alus, has stated that beer production and trade in Latvia are nationally overregulated, so he no longer sees business opportunities in this sector. However, Ruņģis does not intend to retire – he will seek his next "Valmiermuiža", meaning he will invest in the food and beverage sector to create products that can compete in the European market.
Last year was the worst in the history of Latvian brewing, setting new anti-records. Beer production in the country decreased by 8%, which corresponds to the loss of five years of Valmiermuižas alus production or 50 years of Labietis production.
Nevertheless, for Valmiermuižas alus itself, it was the best year ever. The company's turnover increased by 5% to €10.5 million. Non-alcoholic beverage volumes rose by 50%, and profitability indicators also improved.
