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Ermitazas buying Estonia's Bauhof
BC, Tallinn/Vilnius, 25.06.2018.
Print version
Print versionErmitazas, a DIY store chain operated by Vilniaus Prekyba, one of the largest business groups in Lithuania, is buying the Estonian DIY store chain Bauhof, Laima Skiriene, Ertmitazas' sales and marketing director, confirmed it to BNS Lithuania on June 25th, cites LETA.
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The company plans to provide more information on the deal on Tuesday.
The vz.lt business news website reports on Monday that the deal, potentially worth 35 million euros, was reached last Friday and is still subject to the approval of the Estonian competition watchdog.
Bauhof operates 13 stores in Estonia, employing around 450 people. Its turnover stood at 91.8 million euros in 2016.
Ermitazas, controlled by Vilniaus Prekyba owned by businessman Nerijus Numavicius, has six stores in Vilnius, Kaunas, Klaipeda, Siauliai, Jonava and Ukmerge. It earned 8.774 million euros in profits, up 11% from 7.906 million euros 2016. And its turnover grew 9.8% to 85.402 million euros.
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