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GLIMSTEDT advised Grigeo on an agreement regarding investment in cardboard business2019-06-11

GrigeoEN

AB Grigeo and UAB Grigeo investicijų valdymas signed an investment and shareholders agreement regarding investment in cardboard business with UAB BSGF Salvus (the Investor), a subsidiary company of private equity fund INVL Baltic Sea Growth Fund.

Having met all conditions provided for in the agreement, the Investor shall invest in several stages up to €30 million in UAB Grigeo investicijų valdymas, a company fully owned by Grigeo, and will acquire 49.99% of its shares. The companies seek to increase the capacities of cardboard and packaging businesses over the next 5 years.

The transaction shall be closed upon meeting all conditions provided for in the agreement and having received a permit of the Competition Council.

We advised AB Grigeo on all transaction related matters. The project team consisted of Partner Aušra Maliauskaitė-Embrektė and Senior Associate Jurgita Zakarauskienė.

In 2018, Grigeo’s cardboard and packaging business revenues increased by 7.8% and reached €72 million. The company has about 400 employees. The potential of the market for cardboard and its products is growing, therefore, such investments will enable the company to increase its sales and to strengthen cardboard businesses positions in cardboard packaging market in the Baltics, says Gintautas Pangonis, President of AB Grigeo.

INVL Baltic Sea Growth Fund, with a target of €200 million, aims to invest in mid-sized, attractive risk-and-return companies by providing them with capital for future growth.


Lawyers: Aušra Maliauskaitė-Embrektė, Jurgita Zakarauskienė



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