Sorainen advised Marketing Investment Group (MIG) on acquiring more than 10 stores in Lithuania and Latvia from retail company Bogvila.
MIG, a Polish retailer operating in the footwear and clothing market for over 25 years, has developed such well-known retail chains as Sizeer, 50 Style, Symbiosis and UP8. MIG currently provides consumers with products from famous brands in over 300 stores Europe-wide, both through its own retail chains ‒ including e-commerce ‒ and via an extensive wholesale distribution network. This transaction will help the group further expand its retail chain in Lithuania and Latvia, where Bogvila is involved in sales of clothing and footwear by Adidas, Reebok, Nike, Puma and other well-known brands. The company operates stores under the “SPORT outlet” and “R&E SPORT” brands. The transaction involves transfer of these store brands to MIG.
Sorainen advised MIG throughout the entire transaction, including legal due diligence and negotiations. The Sorainen team was led by partner Algirdas Pekšys, with associates Laura Matuizaitė, Lukas Vaišvila, Mantas Kušlys and Zane Akermane.