“I am very happy that there are companies operating at full capacity and actively developing their operations at this difficult time. I am sure that our financing will support Litamilk in their expansion of operations and provide even more opportunities for developing their unique products,” said Darius Burdaitis, Head of Business and Retail Banking of Citadele.
“2019 was a year of rapid growth for our company. Using the latest technology, our team developed formulas that makes us stand out in the global market. Our people are the source of our development and growth. We have also widened the network of partners who rely on us as a reliable supplier. Today, we are the largest supplier of such specialised dairy products in the Baltic countries. I am sure that the new financial injection will help us reinforce our position as a leader,” said Kotryna Uleckaitė, CEO of Litamilk.
More than 90% of Litamilk’s products are exported to Africa, Asia, Oceania and the Arab world. In 2019, the revenue of Litamilk grew by 74% from 2018 and stood at €20.8 million.
About Citadele bank
The mission of Citadele is modernising the banking sector and providing more opportunities for the clients and businesses in the whole Baltic region. Our goal is to become a champion among the Baltic banks.
In addition to traditional banking services, Citadele offers its clients a number of services based on new-generation financial technology: from a modern mobile application, contactless payment and flash payment to being the first bank in the Baltic states offering the possibility to open an account with a selfie and make payments to a mobile phone number.
Citadele is the third largest bank in Latvia by number of clients. Citadele Group is managed from Latvia, while its subsidiaries and branches operate in Latvia, Lithuania and Estonia.
About Litamilk
Litamilk is an innovative and rapidly growing company with 25 years of experience in the market.
Litamilk supplies milk and dairy products to dairy, ice-cream and confectionery industries. The company produces powder dairy mixes LITALAC® and SofiMILK which are well-known for their impeccable quality and sustainability.
In pursuit of economies of scale, Litamilk works in close cooperation with the largest dairy suppliers and producers in the Netherlands, France, Germany, Poland, Lithuania, Latvia, Estonia and other countries outside Europe.
The company has implemented the HACCP system and all its products are compliant with the EU requirements. The company holds FSCC22000, Kosher and Halal certificates.
