The history of Laima candies is also noteworthy. One of the historical predecessors of modern Laima is the factory founded in 1870 in Riga by the Livonian entrepreneur Theodor Riegert. This is why the year is indicated on Laima's product packaging. This enterprise became the first of its kind in Riga and quickly gained popularity throughout the Baltic region of the Russian Empire, supplying products to major Russian cities.

In 1925, the factory was acquired by brothers Eliyahu and Leonid Fromchenko, who named it Laima in honor of the ancient Baltic goddess of happiness and prosperity. In 1933, they sold their share in the company and, along with a group of specialists and workers, moved to the Mandate of Palestine, to the city of Ramat Gan, where they established the chocolate factory Elite.

Today, Elite is a very well-known company in Israel.