Vilniaus Prekyba, Baltic trade and business company that also owns the Maxima chain of stores and the Euroapotheca chain of pharmacies, has concluded the purchase of the Bauhof hardware and gardening store chain from Myinvest Estonia group, informs LETA/BNS.

The sales contract between Myinvest and Vilniaus Prekyba's subsidiary Ermi Group was signed mid-July, according to which Ermi, the subsidiary established for the transaction, would purchase the Bauhof chain. The parties will not disclose the cost of the transaction, but according to Lithuanian business daily Verslo Zinios, the sales price is around 35 mln euros.





The business objective of Ermi Group is to establish an Estonian construction material and household goods retail chain in all counties and their hubs. The company is also planning to harmonize the activity of UAB Ermitazas and that in Estonia in internet trade, logistics and procuring goods. Bauhof is suitable for acquisition for achieving these goals.





Ermi Group has no retail stores in Estonia and lack a geographic overlap with Bauhof 's existing retail stores. Bauhof is a company that has proven itself on the construction material market and its acquisition will give Ermi Group a competitiveness for operating in the construction material and household goods sale segment.





Vilniaus Prekyba is a Lithuanian business and trade group, which owns the Euroapotheca pharmacy chain, the construction retail chain Ermitazas, Maxima Grupp and Akropolis Grupp. Vilniaus Prekyba also operates the activity of several companies active in the field of real estate development and rent companies in the Baltics, Poland, Bulgaria, Ukraine and Sweden.





Bauhof is a company active on the Estonian construction retail market, the company's owner at present is Myinvest Grupp. The company's revenue in 2017 was 97 mln euros and net profit totaled 3.1 mln euros. Bauhof has 13 stores in Estonia and the company employs 450 people.