Sorainen has advised Estonian e-cigarette seller Nicorex Baltic, which — together with retailer Veipland — acquired competitor the Elgery Group. Leppik & Partnerid advised the Elgery Group on the transaction.
As a result of the transaction, 10 SKYsmoke shops merged with 11 Veipland shops into a joint Veipland retail chain. According to Sorainen, "the transition to the new brand and unification of client service standards will kick off in a near future."
“We are glad to note that the transaction reinforces the current trend where Estonian companies see an opportunity in consolidating,” says Piret Lappert, Senior Associate of Sorainen. “Acquisition of companies and the resulting synergy often enables offering a better service so that all market participants gain something from the transaction.”
In addition to Lapparet, Sorainen Partner Toomas Prangli worked on the transaction.
The Leppik & Partnerid team was led by Anne Varvimann.
