top of page

The latest news, trends, analysis, interviews and podcasts from the global food and beverage industry

FoodBev Media Logo
Access more as a FoodBev subscriber

Sign up to FoodBev and unlock more insights from the international food and beverage industry. Subscribers have access to webinars, newsletters, publications and more...

Amber Beverage Group issues bonds to fund automated warehouse
FoodBev Media

FoodBev Media

28 April 2023

Amber Beverage Group issues bonds to fund automated warehouse

Amber Beverage Group (ABG) has issued bonds worth €30 million to finance its automated high-bay warehouse project. The global spirits company's four-year bond issue saw a high level of demand from both private and institutional investors in the Baltic region, with a total exceeding €45 million. The bond issue was arranged by Signet Bank in Latvia. Located in the Freeport of Riga, Latvia, the funds will be used to build a 24,000-square-metre fully automated logistics centre. As a result of the new facility, the warehouse capacity is expected to increase by around 30%, from 25,000 pallets to 35,000 pallets. Jekaterina Stuģe, CEO of ABG, said that the site "will incorporate the latest equipment, managed by a powerful warehouse management system". In addition, she stated that "the warehouse technology will be supplied by Jungheinrich at a cost of €15 million”. The company's entry into the bond market represents "a significant step for Amber Beverage Group," said Stuģe. The company handles 1,400 own and third-party drinks products, and its brand portfolio includes Rooster Rojo Tequila, Kah Tequila, Moskovskaya Vodka, The Irishman Whiskey, Writers’ Tears Whiskey, Riga Black Balsam, Cross Keys Gin and Cosmopolitan Diva. Stuģe added: "As part of our policy of continuous improvement as we move towards attaining a position as a top ten spirits company worldwide, we want to further improve our efficiencies. We aim not only for smooth and cost-effective processes but systems that are contemporary, state-of-the-art and sustainable. We continue to look at various M&A transactions and also at important development projects such as the advanced, automated warehouse project."

bottom of page