Via 3L Group acquires Lithuanian logistics company Terminal LT
Estonian warehouse logistics company Via 3L Group acquires logistics company Terminal LT from the parent company of Girteka Logistics in Lithuania. If approved by the FCA, the transaction is expected to enter into force by the end of January 2020
Via 3L OÜ, an Estonian company owned by JNG Investments, acquires Terminal LT, a third-party warehousing and logistics company from the Lithuanian investment company ME Investicija, under a restricted procedure.
The value of the transaction is not disclosed by the parties. All of today’s Terminal LT employees will continue in the company and will continue to be managed by Gintautas Čečys, who has been with the company since 2007. Following the transition to the Via 3L Group, the company’s focus will continue to be to develop long-term relationships with existing and new customers, and to improve the quality of its 3PL services.
“Terminal LT continues to develop warehousing and contract logistics services under internationally renowned brands that produce or market food and consumer goods (FMCG) and temperature-sensitive products in Lithuania and elsewhere in the Baltics. The acquisition of Terminal LT will enable Via 3L Group to significantly strengthen its position in Lithuania and become the leading provider of 3PL services in the Baltic States. In addition, Baltic distributors will have the opportunity to operate throughout the region with the support of one independent logistics partner, enabling them to expand more efficiently, ”said Gintautas Čečys.
“Via 3L Group has for many years been looking for opportunities to secure entry in the Lithuanian market and the acquisition of ME Investicija’s well-known company in the Lithuanian market is undoubtedly an important step to introduce Via 3L brand through a well-known and strong company in Lithuania. The Via 3L Group has always viewed the Baltic States as a single market and achieving a strong position in all three countries has been our strategic goal, ” said Rainer Rohtla, CEO of Via 3L Group.
“This acquisition takes us a step further by enabling us to deliver our services across the Baltics and provide added value to our current and future customers. I welcome all members of the Terminal LT team to join the Via 3L family and are proud to be with us, ”Rohtla added.
ME Investicija also owns one of Europe’s leading transport and logistics companies, Girteka Logistics. This sale is not related to the provision of services to external customers of the company and the warehousing and customs brokerage services of Girteka Logistics’ LT Logic will continue to be part of their business as an element of integrated transport services. Warehouses in Lithuania, Latvia and Russia also continue to be owned by ME Investicija.
“We are focusing on the operations of our group of companies and want to focus our energy and resources on a rapidly developing international transport business. For 15 years warehousing services provided in Lithuania have not been our core business but an investment business. Our priority is the export of transport services and other activities that add value to this core business and we are now focusing on that, ”said Edvardas Liachovic, CEO of ME Investicija.