Estonia, Legislation, Lithuania, Markets and Companies, Mergers and take-overs

Toom declined to disclose the value of the transaction.

Previously, Toom and co-owner Innar Susi sold the manufacturer of home textiles, mattresses and non-woven fabrics Toom Tekstiil to Smart Production Nordic OU last summer.

Toom said the sale of Dreamland was partially connected with the sell-off of Toom Tekstiil, as almost half of the products sold at Dreamland stores are products made by Toom Tekstiil and a sell-off looked like the right thing to do in light of the divestment of Toom Tekstiil. 

Toom said he had no precise information about Lonas' plans with Dreamland and its employees.

"Apparently they will continue business and with existing employees, but I have no detailed information," he told the newspaper. 

The Dreamland store in Viljandi is about to close, however, in accordance with a decision made by the managers before the sell-off.

Dreamland Home operates four stores under the Dreamland brand in Estonia, two of which are located in Tallinn and one each in Viljandi and Rakvere. The company also runs an e-store.