About Food Union
Food Union is a company based in Riga (Latvia) founded in 2012 by Andrey Beskhmelnitsky was acquired by PAG in January 2024.. Food Union has raised $225 million across 1 funding round from investors including Meridian Capital and PAG. The company has 28 employees as of December 31, 2022. Food Union has completed 3 acquisitions, including Alpin 57 Lux, Karums and Premier Is. Food Union offers products and services including Ice Cream and Dairy Products.
- Headquarter Riga, Latvia
- Employees 28 as on 31 Dec, 2022
- Founders Andrey Beskhmelnitsky
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Email
***********
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Phone
*********
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Website
*********
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Social
*********
- Legal Name Food Union Latvia
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Annual Revenue
$14.05 M (USD)195as on Dec 31, 2022
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Net Profit
$1.77 M (USD)-12as on Dec 31, 2022
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EBITDA
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Total Equity Funding
$225 M (USD)
in 1 rounds
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Latest Funding Round
$225 M (USD), Private Equity Round
Feb 08, 2017
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Investors
Meridian Capital
& 1 more
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Employee Count
28
as on Dec 31, 2022
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Investments & Acquisitions
Alpin 57 Lux
& 2 more
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Acquired by
PAG
(Jan 10, 2024)
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Products & Services of Food Union
Food Union offers a comprehensive portfolio of products and services, including Ice Cream and Dairy Products. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
Ice cream products are produced and distributed for everyday consumption across various markets.
Dairy products are manufactured and marketed under multiple brands to meet local market demands.
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Funding Insights of Food Union
Food Union has successfully raised a total of $225M through 1 strategic funding round. The most recent funding activity was a Private Equity Round round of $225 million completed in February 2017. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 1
- Last Round Private Equity Round — $225.0M
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First Round
First Round
(08 Feb 2017)
- Investors Count 2
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Feb, 2017 | Amount | Private Equity Round - Food Union | Valuation | Meridian Capital , PAG |
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| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in Food Union
Food Union has secured backing from 2 investors, including venture fund investors. Prominent investors backing the company include Meridian Capital and PAG. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Founded Year | Domain | Location | |
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Alternative investment firm
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by Food Union
Food Union has strategically engaged in corporate development activities, having acquired 3 companies. Notable acquisitions include Alpin 57 Lux, Karums and Premier Is. These strategic investments and acquisitions demonstrate the company's commitment to growth through portfolio expansion, market consolidation, technology integration, and strategic partnerships that enhance competitive positioning and drive long-term value creation.
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
|
2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
|
2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Brand of pastries & ice creams
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1994 | ||||
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Dairy products including milk and yogurt are manufactured by Karums.
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1994 | ||||
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Ice creams are manufactured by Premier Is in Denmark.
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1933 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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OVO is recognized as a smart digital payment application.
|
2017 | ||||
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Bionic investment advisor platform
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
|
2014 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 |
Financial Statements - Food Union
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Food Union Comparisons
Competitors of Food Union
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Food Union
Frequently Asked Questions about Food Union
When was Food Union founded?
Food Union was founded in 2012 and raised its 1st funding round 5 years after it was founded.
Where is Food Union located?
Food Union is headquartered in Riga, Latvia.
Who is the current CEO of Food Union?
Andrey Beskhmelnitsky is the current CEO of Food Union. They have also founded this company.
Is Food Union a funded company?
Food Union is a funded company, having raised a total of $225M across 1 funding round to date. The company's 1st funding round was a Private Equity Round of $225M, raised on Feb 08, 2017.
How many employees does Food Union have?
As of Dec 31, 2022, the latest employee count at Food Union is 28.
What is the annual revenue of Food Union?
Annual revenue of Food Union is $14.05M as on Dec 31, 2022.
What does Food Union do?
Food Union was established in 2012 in Riga, Latvia, within the food manufacturing sector. Ice cream, dairy, and frozen food products are produced, with strong local brands developed and marketed via established companies. Product development incorporates innovation, drawing on business intelligence and consumer data. Global activities are aided by an ice cream competence center. Operations prioritize sustainable expansion and stakeholder value.
What products or services does Food Union offer?
Food Union offers Ice Cream and Dairy Products.
How many acquisitions has Food Union made?
Food Union has made 3 acquisitions, including Alpin 57 Lux, Karums, and Premier Is.
Who are Food Union's investors?
Food Union has 2 investors. Key investors include Meridian Capital, and PAG.