A purchase agreement has been signed under which DHL, one of the world’s largest logistics groups, will acquire Venipak Group, including its subsidiaries in Lithuania, Latvia and Estonia. The transaction remains subject to customary regulatory approvals and is expected to be completed before the end of the year.
Venipak has established a strong position in the Baltic parcel delivery market, developed extensive local market expertise and built a network of parcel lockers and collection points. DHL operates in more than 220 countries and territories worldwide and provides a broad range of logistics and parcel delivery services.
Following completion of the transaction, Venipak’s infrastructure will be integrated into DHL’s international logistics network. Investments are planned in the Venipak team, the expansion of its parcel locker network, increased parcel-sorting capacity and further infrastructure development.
The transaction forms part of the growth strategy of DHL eCommerce, a division of DHL Group. It is expected to strengthen DHL’s parcel delivery network across Europe and create further opportunities for Venipak’s continued growth in the region.
By joining the DHL eCommerce network, Venipak will be able to offer its customers access to more than 167,000 DHL service points across Europe, including over 53,000 parcel lockers.
“We are pleased to have contributed to this significant transaction in the Baltic logistics market. It is expected to provide a strong foundation for further expansion in the region and once again demonstrates the continued confidence of major international investors in the Baltics, one of the fastest-growing regions in the European Union.
Our teams in Vilnius, Riga and Tallinn worked on the transaction across all three Baltic countries, providing support in relation to legal due diligence, regulatory approvals, the drafting and negotiation of transaction documents, and strategic legal advice.
The successful execution of a complex cross-border transaction requires close cooperation between all teams involved, strong legal expertise, and timely, commercially focused solutions. We are proud that our integrated Baltic team was able to contribute its expertise throughout the process,” said Dr Irmantas Norkus, Managing Partner at COBALT Lithuania.
The COBALT team working on the transaction was led by Managing Partner Dr Irmantas Norkus, supported by Associate Partners Sandra Sidoraitė and Maksimas Saveljevas.
The team included: Partners Guntars Zīle and Jesse Kivisaari, Associate Partner Aurelija Balčiūnė, Specialist Counsels Elīna Ločmele, Aušrys Šliavas, Kristīne Patmalniece, Julija Beldeninovienė, Managing Associates Kostas Grigaitis, Renata Vasiliauskienė, Senior Associates Liina Saaremets, Ieva Pukelienė, Agnė Jacunskienė, Agnese Gerharde, Priit Põld, Rugilė Šiaulytė, Areldas Augustinaitis, Sabīne Zaula, Juras Žymančius, Toms Dreika, Krista Helmūte, Giedrė Burdulytė, Heili Haabu, Kristiina Kraav, Associates Greta Linartaitė, Vadims Zvicevičs, Tautvydas Rimkus, Kamilė Valužytė, Dovilė Platakytė, Ken Saksniit, Chris Oliver Rahumägi, Junior Associates Kārlis Ošs, Līva Skrupska, Assistant Lawyer Marlene Vaher.
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