A pivotal moment in APF Holdings (NASDAQ: EGG) expansion. One of the fastest-growing agriculture companies in Latvia officially entered its newest infrastructure extension into service today – this included three specialized buildings whose total area exceed 6500 m2. This development will allow to increase production speed by 60% - or to reach 180 million eggs produced annually.
A significant milestone following the company’s stock market listing – the opening of two technologically advanced housing units, a central warehouse, and a liquid egg production complex. Nearing 13 million euros, this round of investment brings APF Group’s total investments in Alūksne to approximately 30 million euros. The new facilities are equipped with state-of-the-art Big Dutchman (Germany) systems, including climate control. The laying hen houses also feature solutions that reduce emissions, along with feeding and waste management systems that ensure high productivity and environmental sustainability. The main contractor – AIMASA – is one of the leading construction companies in Latvia, with their origins – same as APF – being Vidzeme region.
Jurijs Adamovičs, founder of APF Holdings and chairman of the Management Board: “This project concludes a strategically crucial investment phase. We have consolidated our position as one of the leading cage-free egg producers in the Northern-Baltic region. Even more importantly – the modern additional production capabilities lay the foundation for APF to become a significant player in the European animal-derived protein market, particularly in the high-quality protein product segment, strengthening our ability to introduce innovations with a long-term focus."
With a total area of over 6500 m², the new facilities are set to increase APF’s production capacity by 60%, reaching 180 million eggs per year. At the same time, this positions APF as a significant supplier of liquid egg products to the HoReCa and food production sectors. The project has received an investment of €2.9 million in EU co-financing from the Rural Support Service, as well as private capital – €7 million from a bond issuance in 2024 and an additional €5 million in 2025.
Hermanis Dovgijs, chairman of the Management Board of Alūksnes putnu ferma: “The company currently employs more than 60 people, and as a result of the expansion, over 20 new jobs will be created in the Alūksne region. In 2024, we paid nearly 1.3 million euros in taxes, and this amount is expected to exceed 3 million euros in 2025. We also forecast a revenue increase of at least 10 million euros.”
Minister of Agriculture Armands Krauze: “I am proud of the Alūksnes putnu ferma, just as I am of every food production company that is developing and doing so in the more remote regions of Latvia. Expanding production capacity and creating new jobs in Latvia's regions are exactly what the Latvian economy needs, but just as importantly, it ensures the country's food supply needs and provides an opportunity to increase export volumes. Optimism and business ambition, combined with loyalty to the Latvian countryside, are qualities that other entrepreneurs can learn from the Alūksnes putnu ferma. Agriculture is a sector that has the right place in Latvia, especially when a company follows the highest standards of quality and sustainability.”
Strategic development and growth in exports
The new facilities are part of APF’s long-term strategy – to evolve from a traditional egg producer into a multi-sector food company with a focused portfolio of value-added products and international growth. In 2024, exports accounted for 47% of total egg sales (up from 37% in 2023). The main export markets are Lithuania and Estonia, where APF collaborates with leading retail chains. The new liquid egg production plant significantly strengthens APF’s competitiveness in the HoReCa and food processing sectors.
Innovation and sustainability as core values
Through brands like Eggjoy and Fiteg², APF continues to expand their product range – they’ve introduced a new 18-egg retail package (cage-free eggs) as well as expanded its offering of egg protein-based products in the health and sports nutrition segment (egg white protein smoothies, egg white protein powders, collagen capsules), which are available in the whole Europe through e-commerce platform www.fiteg2.com.
In line with their sustainability strategy, APF has switched to using 100% renewable energy in their production processes. Through collaboration with Ignitis Latvija, a solar power station has been built that can produce all the electricity needed in the summer months.
Looking forward
After the conclusion of this investment round, APF will continue to execute their development strategy. In 2025–2026, the design of new hen house and the creation of a new pullets breeding complex in Preiļi Municipality are planned to begin. These initiatives will further strengthen APF's role as a regional leader in sustainable, scalable, and innovative food production.
About APF Holdings:
APF Holdings (NASDAQ: EGG) is a dynamic group of companies engaged in poultry farming, chicken egg production and trading, as well as gas and organic fertilizer production related to poultry farming processes. Our portfolio includes SIA Alūksnes putnu ferma (poultry farming and egg production), SIA APF Trading (wholesale trade in chicken eggs), SIA Oluksne (providing poultry farming and egg production services), SIA APF Energy (gas and organic fertilizer production), and SIA Preiļu putni (poultry farming and young chicken rearing). Founded in 2017, APF Holdings has become a leading player in the Baltic region's poultry and egg industry.
