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COBALT advises KJK Sports in its acquisition of Baltik Vairas

2019-07-01

COBALT advises KJK Sports in its acquisition of 100% of the shares in Baltic Bicycle Trade UAB, the parent company of Baltik Vairas based in Šiauliai, Lithuania. KJK Fund III S.C.A. SICAV-RAIF acting through its wholly-owned Luxembourg-based sporting goods investment company, KJK Sports (all together “KJK”), is pleased to announce that it has signed a definitive agreement with Asgaard A/S from Denmark and Litcapital I from Lithuania for the purchase of 100% of the shares in Baltic Bicycle Trade UAB, the parent company of Baltik Vairas based in Šiauliai, Lithuania.

The transaction is expected to close in the third quarter of 2019, pending competition clearance. 

COBALT represents KJK Sports in all matters related to the transaction and provides all other necessary legal assistance. The project team consists of COBALT Managing Partner Dr Irmantas Norkus and Associate Julija Timoščenko.

KJK Fund III S.C.A. SICAV-RAIF, launched in 2018, is a EUR 250 million private equity fund focused on the Balkan and Baltic regions. KJK Management SA is a Luxembourg-based Alternative Investment Fund Manager founded in 2010.

KJK Sports is a Luxembourg-based sporting goods holding company focused on the active outdoor sporting goods segment with existing investments in Elan d.o.o. (winter sports and sailing), Tahe Outdoors (water sports) and Leader 96 (bicycles).