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TGS Baltic Advises Audimas on Business Separation

TGS Baltic Advises Audimas on Business Separation

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TGS Baltic has advised Lithuanian sports clothing manufacturer Audimas on separating its manufacturing and trading companies and on establishing a real estate management company.

According to TGS Baltic, operations will be conducted by Audimas Supply for the outsourced business, Audimas Brand for the brand business, and Audimo Turtas for real estate. Audimas will retain the holding company’s financial, information systems, human resources, asset management, and other activities.

Founded in 1997, the Audimas activewear brand operates retail chain stores in Lithuania as well as an e-commerce shop. The company exports its products into Europe, the Middle East, and has a wholesale network in Lithuania.

The TGS Baltic team included Partners Agnius Pilipavicius, Aurimas Pauliukevicius, and Ieva Povilaitiene, Associates Indre Mazeikaite, Rimante Varapnicke, and Elvinas Kizys, and Tax Consultant Loreta Antanaitiene.

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