Le Lézard
Classified in: Business, Sports and recreation
Subjects: TNM, ACC

KJK Sports Announces the Completion of the Purchase of 100% of Baltic Bicycle Trade UAB


LUXEMBOURG, Aug. 13, 2019 /PRNewswire/ -- KJK Fund III S.C.A. SICAV-RAIF, advised by KJK Management SA, and acting through its Luxembourg-based sporting goods investment company, KJK Sports (together "KJK"), is pleased to announce the completion of the purchase of 100% of Baltic Bicycle Trade UAB, the parent company of Baltik Vairas UAB, based in ?iauliai, Lithuania.

KJK Sports Logo (PRNewsfoto/KJK Sports)

Kustaa Äimä, managing partner of KJK Management stated, "We are thrilled to add Baltic Vairas to the KJK Sports portfolio. This strengthens KJK Sports' position as the leading bicycle producer in the European market. The acquisition of Baltic Vairas opens significant synergy options with Leader 96 and also brings valuable contacts and know-how." Further, Jeffrey Tirman, CEO of KJK Sports commented that, "With the purchase of Baltik Vairas, in combination Leader 96, KJK Sports is now the largest contract bicycle manufacturer in Europe, with current annual production in excess of 550,000 units (including both regular and e-bikes), and capacity of nearly 1,000,000 bicycles." ?ilvinas Dubasas, CEO of Baltik Vairas also commented that, "We are excited to be joining the KJK Sports group of companies and look forward to cross-platform fertilisation of branding and marketing ideas, as well as achieving synergies and gaining access to new competencies."

The COBALT Law Firm and EY, both based in Vilnius, acted as legal and financial advisors for KJK.

ABOUT KJK Sports. 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). The KJK Sports group of companies generate roughly ?300m in revenue and employ nearly 3,000 workers in 6 European countries. For more information please email info@kjksports.com or visit www.kjksports.com

ABOUT KJK. 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. For more information about KJK Management, please visit www.kjkmanagement.com.   

KJK Sports
9, rue Jean-Pierre Sauvage
L-2514, Luxembourg

 

SOURCE KJK Sports


These press releases may also interest you

20 sep 2019
RedLine Athletics is proud to announce the opening of its newest facility in Keller, Texas. The Grand Opening Celebration will be held Saturday, Sept. 28, 2019, and will feature opportunities to meet the trainers, free merchandise giveaways, and a...

20 sep 2019
WHO: Merritt Pember, M.D., Direct Orthopedic Care (DOC) Surgeon and Veteran U.S. Army Major (Operation Iraqi Freedom)  Major Dan Rooney, Founder, Folds of Honor WHAT: Run for the Flag Race WHEN: Saturday, November 2, 2019 9 a.m. to 12 noon CT WHERE:...

20 sep 2019
The "Seam Tapes - Global Market Outlook (2017-2026)" report has been added to ResearchAndMarkets.com's offering. Global Seam Tapes market accounted for $180.2 million in 2017 and is expected to reach $368.4 million by 2026 growing at a CAGR of 8.3%...

20 sep 2019
TransPerfect, the world's largest provider of language and technology solutions for global business, today announced the opening of the second leg of the TransPerfect 4x4 Desert Crossing Project, a global series of desert-crossing runs that will...

20 sep 2019
Blink Fitness, the premium quality, affordable fitness brand is excited to announce the grand opening of its 11th Bronx location, in Bedford Park. Blink Fitness will open its doors to the much-anticipated location at 3000 Jerome Ave. on Friday,...

20 sep 2019
REMINDER ? WEEKEND SCHEDULE Saturday, September 21, 2019 8:00 a.m. Sports Experts 5K Start Corner Maisonneuve & Saint-Laurent 8:30 10K Start Corner Maisonneuve & Saint-Laurent 10:35 Start of 1K P'tit Marathon Tel-jeunes, with actor Sarah-Jeanne...



News published on 13 august 2019 at 03:00 and distributed by: