Mid Europa Partners (Mid Europa) is to acquire UAB Pigu (Piqu), an e-ccomerce platform focussed on the Baltic countries.
Additionally, Mid Europa has agreed with MCI.Euroventures and the founding shareholders of Pigu and Hobby Hall Group OÜ (HHG) to combine Pigu and HHG to create one of the leading e-commerce and online marketplace platforms operating across Lithuania, Latvia, and Estonia with a growing presence in Finland.
Mid Europa will emerge as the majority shareholder supported by MCI.Euroventures (MCI buyout fund) and the two founding shareholders of Pigu and HHG retaining significant stakes in the combined Group. The transaction, which is subject to antitrust approval, is expected to complete in Q2 2021.
With several million registered customers across four countries, 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 by offering the best-in-class value proposition and online shopping experience for its customers and merchants alike.
Read more/Source: Private Equity Wire
