Hong Kong-based investment firm PAG Private Equity will acquire full control of Latvia’s Food Union Group, which produces ice cream and other frozen foods, LSM reports. PAG expects to complete the transaction in the first quarter of 2024. Food Union will continue under present management and business structure. PAG has been an investor in Food Union since February 2017. Food Union Group companies include Premia in the Baltic States, Rigas Piena Kombinats and Valmieras Piens in Latvia, Hjem-Is and Premier Is in Denmark, Den Norske Isbilen and Isbjorn Is in Norway, and Alpin57Lux in Romania.
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