09.02.2024
Dimedium Group OÜ, a wholesaler of veterinary medicines, animal, fish and pet products, acquired two companies in Latvia – the facilities of Kurzeme CMAS and Latgale CMAS – with an investment in the form of bonds. The companies produce and sell breeding material for cattle and pigs, provide semen collection services and analyse milk samples.
As a result of the transaction, the subsidiaries of Dimedium Group subsidiaries will now be active in cattle genetics and breeding in Estonia, Latvia and Lithuania, providing solutions from the world’s best breeding companies. The achieved position enables the company to offer its customers the best products and services and demonstrates its growth ambitions and market capabilities.
The investment will be reflected in the portfolios of the LHV L and LHV M pension funds. “The ability to take advantage of investment opportunities that present themselves is the strongest characteristic of a successful business. Although we as pension funds have been looking for flexible investment opportunities primarily elsewhere in the world, Estonian companies with strong growth ambitions such as Dimedium will continue to be a valuable addition to investment portfolio of the pension funds,” said Romet Enok, fund manager responsible for the bond investments of LHV pension funds.
The operations and team of Kurzeme CMAS have been merged with AS Dimedium Latvijas and Latgale CMAS, which has two dairy laboratories, will continue to operate as a separate company.
Dimedium is a wholesaler of veterinary medicines, animal, plant, fish and pet products. The company operates under the slogan Full Animal Health. Turnover of Dimedium Group in 2023 was approximately €22 million, about 60% of which was in Estonia and the rest in Latvia and Lithuania.
AS LHV Varahaldus, which manages the pension funds of LHV, is a subsidiary of LHV Group, the largest local financial group and capital provider. LHV funds have nearly 121,000 Pillar II and nearly 35,000 Pillar III clients, the volume of managed assets is ca €1.4 billion.
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