Questions? +1 (202) 335-3939 Login
Trusted News Since 1995
A service for global professionals · Monday, October 14, 2019 · 499,176,950 Articles · 3+ Million Readers

KJK Sports Announces the Completion of the Purchase of 100% of Baltic Bicycle Trade UAB

With this purchase, KJK Sports is now the largest contract manufacturer of bicycles (regular and e-bike) in Europe.

KJK Sports is now the largest bicycle manufacturer in Europe, with current annual production in excess of 550’000 units (regular and e-bikes), and capacity of nearly 1’000’000 units”
— Jeffrey Tirman, CEO KJK Sports
LUXEMBOURG, LUXEMBOURG, August 13, 2019 /EINPresswire.com/ -- KJK Sports
9, rue Jean-Pierre Sauvage
L-2514, Luxembourg

KJK Sports Announces the Completion of the Purchase of 100% of Baltic Bicycle Trade UAB

KJK Fund III S.C.A. SICAV-RAIF, advised by KJK Management SA, and acting through its Luxembourg-based sporting goods investment company, KJK Sports (together “KJK”), is pleased to announce the completion of the purchase of 100% of Baltic Bicycle Trade UAB, the parent company of Baltik Vairas UAB, based in Šiauliai, Lithuania.

Kustaa Äimä, managing partner of KJK Management stated “We are thrilled to add Baltic Vairas to the KJK Sports portfolio. This strengthens KJK Sports’ position as the leading bicycle producer in the European market. The acquisition of Baltic Vairas opens significant synergy options with Leader 96 and also brings valuable contacts and know-how.” Further, Jeffrey Tirman, CEO of KJK Sports commented that “With the purchase of Baltik Vairas, in combination Leader 96, KJK Sports is now the largest contract bicycle manufacturer in Europe, with current annual production in excess of 550’000 units (including both regular and e-bikes), and capacity of nearly 1’000’000 bicycles”. Žilvinas Dubasas, CEO of Baltik Vairas also commented that “We are excited to be joining the KJK Sports group of companies and look forward to cross-platform fertilisation of branding and marketing ideas, as well as achieving synergies and gaining access to new competencies.”

The COBALT Law Firm and EY, both based in Vilnius, acted as legal and financial advisors for KJK.

ABOUT KJK Sports. KJK Sports is a Luxembourg-based sporting goods holding company focused on the active outdoor sporting goods segment with existing investments in Elan d.o.o. (winter sports and sailing), Tahe Outdoors (water sports) and Leader 96 (bicycles). The KJK Sports group of companies generate roughly €300m in revenue and employ nearly 3’000 workers in 6 European countries. For more information please email info@kjksports.com or visit www.kjksports.com.

ABOUT KJK. KJK Fund III S.C.A. SICAV-RAIF, launched in 2018, is a EUR 250 million private equity fund focused on the Balkan and Baltic regions. KJK Management SA is a Luxembourg-based Alternative Investment Fund Manager founded in 2010. For more information about KJK Management, please visit www.kjkmanagement.com.

--- END ---

Jeffrey Tirman
KJK Sports SA
+352 28 37 16 55
email us here
Visit us on social media:
LinkedIn

Powered by EIN Presswire


EIN Presswire does not exercise editorial control over third-party content provided, uploaded, published, or distributed by users of EIN Presswire. We are a distributor, not a publisher, of 3rd party content. Such content may contain the views, opinions, statements, offers, and other material of the respective users, suppliers, participants, or authors.

Submit your press release