Sorainen has advised the Marketing Investment Group on its acquisition of more than ten stores in Lithuania and Latvia from retailer Bogvila. The seller was represented by SGKA Legal.
MIG, a Polish retailer operating in the footwear and clothing market for over 25 years, has developed retail chains such as Sizeer, 50 Style, Symbiosis, and UP8. It currently provides consumers with products from well-known brands in over 300 stores Europe-wide, both through its own retail chains ‒ including e-commerce ‒ and via a wholesale distribution network.
According to Sorainen, "this transaction will help the group further expand its retail chain in Lithuania and Latvia, where Bogvila is involved in sales of clothing and footwear by Adidas, Reebok, Nike, Puma, and other well-known brands."
Bogvila also operates stores under the SPORT Outlet and R&E SPORT brands. The transaction also involves the transfer of these store brands to MIG.
The Sorainen team was led by Partner Algirdas Peksys, assisted by Associates Laura Matuizaite, Lukas Vaisvila, Mantas Kuslys, and Zane Akermane.
SGKA Legal did not reply to our inquiries.