Euronics acquired the Lithuanian retail chain Avitelos Prekyba
2023 - 11 - 13
COBALT assisted the client in the sale of one of the largest household electronics retail chains in Lithuania, Avitelos Prekyba, to the Euronics group.
On October 30, Lithuanian retail chain Avitelos Prekyba was sold to Euronics, a technology equipment retail group in Estonia and Latvia.
In Lithuania, Avitelos Prekyba operates under the brands Avitela and ElektroMarkt. After the transaction, business activities will continue as usual, and the physical and online stores will continue to operate under the Avitela and ElektroMarkt brands.
Avitela is one of the largest household electronics retail chains in Lithuania, founded in Klaipėda and operating for more than two decades.
Euronics, located in the capital of Estonia, is the official representative of approximately 400 brands. Euronics previously operated in Estonia and Latvia, and now, after this transaction, it connects almost 50 stores in 29 different cities in the Baltic States.
The Competition Council gave permission for the transaction in September.
COBALT represented and advised the seller of Avitelos Prekyba on all issues related to the transaction. The legal team was led by COBALT Partner Elijus Burgis and Managing Associate Deimantė Pagirienė.