COBALT advised UAB LTk Capital and UAB G Capital on the sale of 100% interest in UAB Kruzas Nordic Cosmetics Distribution, wholesaler of cosmetics, to Berner Ltd.
Berner Ltd. is a Finnish family-owned company that has been building its product brands for 130 years. It is focused on manufacturing and distribution of various consumer, sports goods, agriculture production etc. One of the key fields of Berner Ltd activity is trade in cosmetics; therefore the acquisition of an existing wholesale company is likely to help consolidate Berner’s presence in the Baltic States.
UAB Kruzas Nordic Cosmetics Distribution is one of the largest independent cosmetics and perfume wholesalers in the Baltic countries. In 2007, the Company opened its subsidiary SIA Kruzas NCD Latvia, in 2009 the Company expanded to Estonia. The Company currently has over 90 employees across the three Baltic countries.
COBALT responsibilities included the preparation and management of the data room, structuring the acquisition, drafting the entire package of transaction documents, negotiations with the buyer and assistance in closing the transaction. The team was led by Partner Elijus Burgis and Senior Associate Eva Suduiko.