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Friday, 19.04.2024, 19:16
Livonia Partners invests in Estonia's home and garden goods retailer Hortes
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"Hortes is one of Estonia's most successful retail brands. It has a
unique concept and constantly growing profitability figures,"said Mindaugas Utkevicius, a founding
partner at Livonia Partners.
Founded in 2004 by Estonia's Trigon Capital and Finnish investors, Hortes now operates the largest garden
and home goods centre in Estonia.
Following the acquisition, Livonia Partners will own 100% of shares
in Hortes, which plans to expand in
Estonia and to other countries.
This is Livonia Partners' second investment this year following the
acquisition of a majority stake in Estonia's sauna and thermo-treated wood
product manufacturer Ha Serv.
Launched in August 2015, Livonia Partners currently manages 83 mln euros. The fund invests in medium-sized companies in the Baltic countries, mostly in business services, manufacturing, finances, energy and healthcare.
Its founders are Kristine Berzina of Latvia, Rain Lohmus and Kaido Veske of Estonia, and Utkevicius of Lithuania.
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