Time Capsule Ceremonially Embedded in the Foundations of “LIDO House”

A symbolic start to a new chapter in LIDO’s development

The time capsule ceremony was attended by LIDO management, project partners, public officials and media representatives. Messages from LIDO employees were placed inside the capsule, symbolically highlighting that the company’s most important foundation is its people, whose work has shaped LIDO to date and will continue to shape its future.

“For nearly ten years, we have dreamed of a building that would bring all of the company’s strategically important functions together under one roof. This is a historic moment that shows our vision is becoming a reality – LIDO will finally have a home of its own! It will play a vital role in the company’s future development and growth, enabling LIDO to increase production capacity and expand exports across the Baltics and Scandinavia. I am proud of our team and our partners, who are helping to bring this project to life and take the company to new heights,” said Rita Auziņa, Chairwoman of the Management Board of LIDO.

Production, logistics and administration under one roof

“LIDO House” will be a 16,000 m² production, logistics, warehousing and administration complex, created through the redevelopment of part of the historic Rīga Radiotehnika factory building.

The new complex will bring production and the related logistics and warehousing infrastructure together in one location, enable the introduction of modern production equipment and technologies, and significantly increase production capacity. This will allow LIDO to expand its product range, supply its existing restaurant network more efficiently, and create greater opportunities for exporting LIDO products.

“LIDO House is a strong testament to the willingness of Latvian companies to invest, modernise production and think on a much larger scale. A new production facility with a capacity of up to 100 tonnes per day will not only make the company more efficient, but will also strengthen the competitiveness and export potential of Latvia’s food industry. These are exactly the kinds of investments we need – investments in companies that see their future in Latvia, create value here and are ready to compete internationally,” emphasised Viktors Valainis, Minister for Economics of Latvia.

Part of a major multifunctional development

“LIDO House” will form part of a new multifunctional development in Riga’s Imanta neighbourhood, which will also include 88,000 m² of entertainment, retail and service infrastructure.

“The transformation of the historic Rīga Radiotehnika factory site is a strategic step that extends far beyond the boundaries of a single company. This long-term investment will provide a solid foundation for the future growth of the LIDO Group and serve as a strong catalyst for the development of the Imanta neighbourhood and Riga’s urban environment. Our goal is to create a modern, multifunctional environment where historical heritage meets contemporary business and infrastructure solutions,” said Ivars Vendelins, Chairman of the Supervisory Board of LIDO.

The building is scheduled for completion and commissioning in spring 2028.