We advised the founders of Pigu on the sale of their shares of the largest e-commerce platform in the Baltics to the private equity fund Mid Europa Partners.
Plans to combine Pigu with Estonian Hobby Hall Group OÜ
The new shareholder plans to combine Pigu with the Estonian e-commerce company Hobby Hall Group OÜ (HHG), thus creating an e-commerce and online marketplace platform operating across Lithuania, Latvia, Estonia and Finland.
With several million registered customers across four countries, and over 2,000 merchants onboarded on Pigu’s proprietary marketplace platform over the last year, as well as a unique portfolio of online shopping destinations such as pigu.lt, kaup24.ee, hansapost.ee, 220.lv, xnet.lv and hobbyhall.fi, the combined group is expected to lead the development of the region’s rapidly growing digital economy.
The new leader in the e-commerce market
Dainius Liulys, one of the founders and CEO of Pigu, will serve as CEO of the combined group. He says: “The combination of Pigu and HHG creates a true regional champion and represents a unique opportunity for us to accelerate e-commerce growth in the Baltics and Finland. We are putting together two incredibly talented teams and expect to leverage our joint fulfilment and technology infrastructure, as well as our highly complementary product selection to further improve the online shopping experience for our customers.”
Our services and team
The clients were advised on all issues related to the transaction by partner Mantas Petkevičius and associate Mindaugas Baniulis.