Glimstedt's Lithuania office has advised SweDeltaco on its May 6, 2014 agreement to acquire 100 % of the shares in UAB AG Trade, a leading Lithuanian distributor of white goods and consumer electronics, from UAB Topo Grupe.
As a part of the agreement with UAB Topo Grupe, commercial agreements were signed with UAB TC Prekyba, a subsidiary to Topo Grupe and the leading consumer electronics chain in Lithuania, with 33 stores and a long history as customer to AG Trade. These agreements include far-reaching mutual commitments and incentives for the parties to establish and expand the product portfolio of SweDeltaco in the Baltics. In 2013 AG Trade had a turnover of LTL 39.3 million LTL (approximately EUR 11.4 milion) and showed a profit before depreciation (EBITDA) of 1.8 MLTL (approximately EUR 530,000).
The acquisition closed on May 14, 2014.