BaltCap Growth Fund (BGF) has signed an agreement to acquire 100% of shares in UAB Sveiki Produktai (Livinn) and UAB Bio Sala (Biosala), two leading retail chains of organic products in Lithuania. The transaction is subject to competition clearance.
Livinn and Biosala are two leading retail chains of organic and healthy food and non-food products in Lithuania. Companies are offering specialized, carefully selected assortment, as well as professional in-store assistance about product specifics, such as nutritional value or allergens. Together, they sell products through 18 retail stores across largest towns and online shops.
“Globally, free-from and organic are some of the fastest growing sectors in food retail. Wellness-worried shoppers are increasingly looking for better availability of organically-sourced products and professional guidance. Founders of Livinn and Biosala developed strong and trusted retail brands. Today, we are proud to support both companies in their journey forward,” says Marius Miskinis, Associate Director of BaltCap Growth Fund.
SPC Legal acted as legal adviser to BaltCap.
”Developing company as a founder requires lots of dedication, creativity and constant enthusiasm, which at some point becomes insufficient to support further growth. New business-oriented owner with financial backing enables growth, while our team’s intrinsic values, such as focus on product purity, quality and environmental friendliness will ensure that clients are happy going forward,” says Guoda Azguridiene, one of the founders of Livinn.
The deal is a second investment by BaltCap Growth Fund. BaltCap Growth Fund was established by BaltCap in cooperation with the European Investment Fund through the Baltic Innovation Fund and with the investments from Baltic pension funds managed by Swedbank and Luminor. BGF is a continuation of growth capital strategy for BaltCap with first growth fund established in 2001.
BGF invests in fast growing and profitable companies, potential sector leaders in the Baltics and beyond. We typically invest in growth of the company by increasing its production capacity, developing a new product range, entering new markets or acquiring a competitor. We can also buy out shareholders looking for a liquidity event or finance management buyouts. BGF aims to invest between €2-4 million of equity per portfolio company acquiring majority or influential minority stake.
For more information, please contact: