COBALT advises on the sale of the Apotheca pharmacy chain

COBALT is advising the shareholders of UAB Apotheca Vaistinė on the sale of a pharmacy chain operated in Lithuania to the pharmaceutical wholesale and retail group Magnum. The acquisition is yet to be approved by the Competition Council.

Currently, the Apotheca Pharmacy network in Lithuania includes 48 pharmacies operating in major cities of the country. Magnum owns 17 companies in Estonia, Latvia, Lithuania, Finland and Belarus, with the total turnover of more than EUR 500 million in 2020. So far, Magnum AS has operated 13 pharmacies in Vilnius, Panevėžys, Kaunas, Klaipėda and other cities in Lithuania; the first Apotheka franchise pharmacy started operating in the Lithuanian market in 2019.

COBALT has prepared transaction documents, represented the client in negotiations and provided advice on all issues related to the transaction. The project team is lead by Partner Dr Juozas Rimas and Associate Kostas Grigaitis.