Good for Business, Latvia, Markets and Companies, Mergers and take-overs

Under the agreement signed on Tuesday, June 4, Delfi subsidiary Delfi Ticket Service and its Delfi Tickets will acquire 100% of Bilesu Paradize shares. The price and other terms of the deal will not be disclosed.

The transaction has been partly financed by Citadele Bank.

Ekspress Grupp indicated that the aim of the acquisition is to expand into new areas with the focus on increasing the share of group’s digital revenues; increase the group’s return on capital and realize synergies with adjacent businesses to existing media operations; strengthen the core existing activities and to support the group in carrying out the digital transformation and develop the group’s diversified digital business footprint.

"In the long run, Ekspress Group sees the opportunity to expand its ticket sales business to other Baltic countries as well," Mari-Liis Ruutsalu, CEO of Ekspress Grupp, said in a press release.

Bilesu Paradize co-founder Eriks Nalivaiko informed that ticket sales in Latvia will continue under the company’s existing brand name and management team. “Janis Daube and I as the main founders of Bilesu Paradize will continue to take an active part in managing the company,” Nalivaiko said, adding that integration with the media business will enable Bilesu Paradize to offer more options to clients and event organizers.

Bilesu Paradize operates the electronic ticket platform (bilesuparadize.lv) and box offices to organize the sale of tickets to various entertainment events on behalf of event organizers. The company has provided online ticket distribution for more than 15 years and is one of the two leading ticket service providers in Latvia. In 2018, Bilesu Paradize sold tickets for more than 7,000 events.

Until now, Bilesu Paradize belonged to Daube (33.84 %), Nellija Tabune (24 %), Nalivaiko (20 %), Komercmeistars (10.16 %), Janis Junkers (8 %) and Evija Pirtniece (4 %), according to information available at Firmas.lv.

In 2018, Bilesu Paradize turned over EUR 1.929 mln, up 15.9% against 2017, and the company’s profit rose 2.5% to EUR 883,814.

Since 2007 Delfi belongs to Ekspress Grup, which was established in 1989. Delfi subsidiary Delfi Ticket Service and its subsidiary Delfi Tickets were registered on May 28, 2019.