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Draft:Lido (restaurant)
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| Company type | Division |
|---|---|
| Industry | Restaurant |
| Genre | Casual dining |
| Founded | 1987 in Latvia, Riga. |
| Founders | Gunārs Ķirsons |
| Products | Traditional Latvian cuisine |
| Website | https://www.lido.lv/lv/ |
Lido (officially AS Lido) is a Latvian public catering company specialising in traditional Latvian cuisine, founded by Gunārs Ķirsons in Riga, Latvia. The company operates a network of self-service restaurants and related food production facilities.[1]
The company’s share capital is primarily held by the Estonian company OÜ Treeland, which owns 96% of the shares and is part of the Apollo Group, while the remaining 4% is owned by SIA K.E.Projekti, controlled by Gunārs Ķirsons.[2]
Founded in 1987, Lido operates 13 restaurants and four shops in Latvia, mainly in Riga and Ādaži, as well as four restaurants in Estonia, located in Tallinn.[3] In addition to its restaurant operations, the company is involved in food manufacturing, including a culinary production facility, a brewery, and a confectionery in Riga.[4]
History
[edit]AS “Lido” was founded in 1987 by Latvian entrepreneur Gunārs Ķirsons, and in 1988, the first Lido restaurant-bar opened in Riga on Lāčplēša Street, operating for several years. In 1989, a carpentry workshop was established to produce interior elements for Lido restaurants and bistros. In 1991, the “Baltais LIDO” opened in Old Riga on Tirgoņu Street, operating for five years, and on September 9, 1991, the company was registered as SIA “Lido”. In 1992, the first bistro opened on Ģertrūdes Street 54, offering quick meals served on disposable tableware.[5] In 1999, the LIDO Recreation Centre opened on Krasta Street, which in 2003 was expanded with an amusement park and an ice rink, making it a popular family entertainment destination.[6] The company’s turnover reached 18.3 million Latvian lats in 2005, and on December 13, 2012, Lido was re-registered as a joint-stock company.[5] In 2020, Amber Beverage Group received approval to acquire a significant influence over AS LIDO.[7] In 2021, OÜ Treeland, part of the Apollo Group, became the holder of 51% of Lido shares, with the transaction approved by competition authorities in Estonia and Latvia.[8] In October 2023, OÜ Treeland increased its stake in the company to 75%. In 2024, Lido introduced robots for dish collection in two shopping centres, with plans to expand the technology across the entire restaurant network.[9] In the financial year from May 2023 to April 2024, the company’s turnover reached €59.71 million, with a net profit of €3.03 million, marking its most successful financial year to date. In January 2025, OÜ Treeland acquired an additional 21% of shares from SIA “K.E.Projekti”, giving Apollo Group 96% of the company’s capital, while Gunārs Ķirsons retained 4% and stepped down from the board.[10] In July 2025, Lido announced an investment of over €40 million to develop new production, warehouse, and office facilities on the former “Rīgas Radiotehnika” factory site.[11]
Food
[edit]The menu of LIDO is primarily based on traditional Latvian cuisine and is served in a cafeteria-style self-service format.[12] The restaurant chain offers a broad selection of hot and cold dishes prepared daily, reflecting national culinary traditions.[13] According to business and media reports, LIDO restaurants offer approximately 200 different dishes, including soups, meat-based meals, salads, side dishes, and desserts.[14] The assortment typically includes classic Latvian dishes such as grey peas with bacon, various vegetable salads, pancakes, and grilled or roasted meats.[15] Food is displayed at serving counters where guests select items before paying at the cashier, a format that has been described as central to the chain’s identity.[13] In addition to traditional Latvian fare, the menu includes internationally recognizable dishes such as steaks, seafood options, and vegetarian meals.[16] Desserts and baked goods are also a significant part of the offering, and the company operates its own production facilities for meat processing and confectionery.[17]
Ownership
[edit]Latvian entrepreneur Gunārs Ķirsons, has been the principal shareholder of the company for several decades.[18] In July 2021, a 51% stake in AS LIDO was acquired by the Estonian investment company Treeland, part of Apollo Group. Following the transaction, Ķirsons retained a minority stake in the company.[17] In 2024–2025, Treeland increased its ownership stake to approximately 96%, further consolidating Apollo Group’s control over the restaurant chain.[8]
References
[edit]- ^ "Restaurant Lido - Traditional Latvian Cuisine in Riga". Liden & Denz. March 10, 2015. Retrieved February 22, 2026.
- ^ Dumpe, Līva (February 3, 2025). "Apollo Group acquires additional shares in Lido". COBALT. Retrieved February 22, 2026.
- ^ "LIDO announces 40 million euro expansion plan". eng.lsm.lv. Retrieved February 22, 2026.
- ^ ""Lido" norāda, ka uzņēmuma slavenā slidotava "savu dzīvi ir nokalpojusi"". Jauns.lv (in Latvian). December 8, 2025. Retrieved February 22, 2026.
{{cite web}}: CS1 maint: url-status (link) - ^ a b "Vēsture". www.lido.lv (in Latvian). Archived from the original on August 24, 2019. Retrieved February 22, 2026.
- ^ ""Lido" un Ķirsons atkal „zirgā"". Jauns.lv (in Latvian). December 7, 2011. Retrieved February 22, 2026.
- ^ "Competition watchdog allows drinks group to buy Lido restaurant shares". eng.lsm.lv. Retrieved February 25, 2026.
- ^ a b "Apollo Group palielinās līdzdalību Lido kapitālā līdz 75%". Dienas Bizness (in Latvian). Retrieved February 22, 2026.
- ^ "Lido klientu apkalpošanā iesaista robotus". Dienas Bizness (in Latvian). Retrieved February 22, 2026.
- ^ "AS Lido sasniedzis rekordlielu apgrozījumu un peļņu". Dienas Bizness (in Latvian). Retrieved February 24, 2026.
- ^ "LIDO announces 40 million euro expansion plan". eng.lsm.lv. Retrieved February 22, 2026.
- ^ "Latvian cuisine". www.liveriga.com. Retrieved February 24, 2026.
- ^ a b "Getting a taste of tradition". www.baltictimes.com. Retrieved February 24, 2026.
- ^ ""Lido" pēc Tallinas mērķēs uz Berlīni". LA.LV (in Latvian). Retrieved February 24, 2026.
- ^ Caballero.lv. "Latvian Cuisine – Traditional Flavors and Modern Twists". Latvia. Retrieved February 24, 2026.
- ^ "Latvian bistro chain sets up third shop in Tallinn". eng.lsm.lv. Retrieved February 24, 2026.
- ^ a b "Estonian investor to take over Latvia's famous Lido restaurants". eng.lsm.lv. Retrieved February 24, 2026.
- ^ "About us". LIDO. Retrieved February 24, 2026.