Swedish IT supplier acquires Lithuanian electronics distributor
Leading Swedish IT distributor Swedeltaco has acquired UAB AG Trade – a leading Lithuanian distributor of home appliances and consumer electronics in a deal advised by BCMS.
The acquisition is of strategic importance for Tullinge-based Swedeltaco. By acquiring 100% of the shares of the division from Baltic retailer UAB Topo Group, Swedeltaco will establish a foundation for further expansion into the Baltic region.
As part of the agreement with UAB Topo Group, commercial agreements have been signed with UAB TV Prekyba, a Topo Group subsidiary and the leading consumer electronics chain in Lithuania with 33 stores and a long history as a customer of AG Trade.
These agreements include far-reaching and mutual incentives to establish and expand Swedeltaco’s product portfolio in the Baltics.
UAB AG Trade operates in Lithuania and Latvia, supplying leading brands including LG, Samsung, Electrolux, Beko, Zanussi and Tefal.
As of May 2015, UAB AG Trade changed its name to Deltaco Baltics.