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Experts from Lithuanian and Estonian offices of TGS Baltic advised UAB Ermitažas, a major Lithuanian chain offering finishing goods, gardening items and construction materials, in acquisition of the Estonian company Bauhof, which is a leader in the same sector. The transaction will be closed upon obtaining a permit from the Estonian competition authority.
It is expected that after the acquisition UAB Ermitažas will be the third largest merchant of construction materials and household items in the Baltics.
Experts of the M&A team at TGS Baltic advised UAB Ermitažas on strategic transaction issues, represented the company in negotiations, drafted contract documents, performed a legal due diligence, etc. Partners Marius Matonis, Dalia Tamašauskaitė-Žilienė, Kadri Kallas, Sander Kärson, advocates Indrė Vickaitė, Katri Paas-Mohando, associate advocates Ramūnas Švenčionis and Giedrius Svidras worked on the project.
UAB Ermitažas is a major Lithuanian chain offering finishing goods, gardening items and construction materials. The sales revenue of UAB Ermitažas in 2017 was EUR 85.7 million and the net profit was EUR 2.2 million. The company has 9 stores in Lithuania, 690 employees.
Bauhof (www.bauhof.ee) is the leader in the Estonian retail market of construction materials. Until now it belonged to MyInvest group. The sales revenue of Bauhof in 2017 was EUR 97 million and the net profit was EUR 3.1 million. Bauhof has 13 stores in Estonia, 450 employees.
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