The firm’s M&A team advised Pigu, the largest e-commerce company in the Baltics, on the acquisition of DLB e-shop operating in Estonia and Finland.
At the beginning of 2013, the firm advised Pigu on the acquisition of a majority shareholding in DLB Trading, and in March 2014 on the acquisition of the remaining shares.
According to Dainius Liulys, the executive director of the Pigu Group, the Group decided to expand to Estonia and Finland because its sales rose by 76% in Lithuania and Latvia last year, reaching more than 25 million EUR. “We started merger negotiations with existing e-stores and selected DLB, because we see it as holding the potential for rapid growth,” Liulys said. “We will seek to improve DLB’s market position in Finland and Estonia, using our experience.”
Pigu Group operates an e-store in Lithuania at www.pigu.lt and in Latvia at www.220.lv.
DLB Trading operates an e-store in Estonia at www.dlb.ee and in Finland at www.dlb.fi.
On the same topic
Ärileht: Lithuanian e-store Pigu intends to expand to Estonia
ERR: The largest e-merchant of the Baltic states purchased DLB’s e-store in Estonia
E24: The largest e-merchant of the Baltic states expanded to Estonia and Finland
Äripäev: E-merchant operating in Latvia and Lithuania bought an e-store in Estonia
