Cobalt has advised Treeland OU on the acquisition of a 51% stake in Latvian catering company Lido AS for an undisclosed amount.
Treeland OU is an Estonian company owned by Ivar Vendelin.
Lido AS is the owner of 20 restaurants operating in Latvia and Estonia and nine grocery shops in Latvia. It was registered in 1991 and posted a turnover of EUR 59 million in 2019.
Cobalt’s team included Estonia-based Partner Aivar Taro and Senior Associate Liina Saaremets and Latvia-based Managing Partner Dace Silava-Tomsone, Senior Associates Elina Locmele, Kristine Patmalniece, and Inga Tenisa, and Associates Juta Gulkevica, Zane Caune, Gabriela Santare, and Vadims Zvicevics.
Cobalt did not reply to our inquiry on the matter.