ME Investicija is divesting the warehousing and third-party logistics (3PL) services of Terminal LT – one of its Lithuanian non-core investment companies. Established in 2004, Terminal LT is being purchased by Via 3L Group one of the leading 3PL service providers in Estonia and Latvia. The transaction is expected to come into effect on January 2020 after its confirmation by the Competition Council.
ME Investicija is the owner of Girteka Logistics, one of the leading transport and logistics companies in Europe. The warehousing and customs intermediation services provided by Girteka Logistics for its customers remain unaffected by this sale and will continue to be part of the company’s expansive portfolio of transportation services. The company’s own warehouses in Russia and Latvia and Lithuania will also be maintained.
“In order to focus our energy and resources on the quickly growing and developing international business of transportation, we are divesting one of our non-core businesses. We will now focus on the export business of transportation services, and on other supporting activities that create added value for this, our core business area,” said Edvardas Liachovičius, CEO of ME Investicija.
The purchase of Terminal LT by Via 3L OÜ – a mother company of Via 3L Group which belongs to Estonian company JNG Investments – has been completed through a closed tender. The value of the transaction has not been disclosed. Terminal LT will continue to be headed by Gintautas Čečys, who has been working for the company since 2007 and has been the director since 2016.
After the acquisition, all the current Terminal LT employees will continue working at Terminal LT, developing long-term partnerships with both current and new clients.
“Under the new ownership, Terminal LT will continue developing its warehousing and third-party logistics services, providing them to manufacturers representing global brands and distributors who distribute FMCG (Fast-Moving Consumer Goods) and temperature-sensitive products in Lithuania and in the Baltic states. This acquisition will help Via 3L Group to substantially strengthen its position in Lithuania and become leading 3PL service provider in the Baltic region. It will bring new opportunities to Baltic distributors to enter into all Baltic markets under one independent logistic partner and opens up new efficient distribution opportunities,” said G. Čečys.
“Via 3L Group has been searching acquisition opportunity to enter to the Lithuanian market for several years. We are very glad that with ME Investicija we have found common language which allows us to introduce Via 3L brand on the Lithuanian market through well-known and strong company. Via 3L Group has always taken Baltic countries as one market and being strongly present in all three countries has been our strategic goal. It gives to us opportunity to provide our services in all countries creating additional value to our current and future customers. I would like to welcome all Terminal LT team members in Via 3L family, we are proud to have you with us,” said R.Rohtla CEO of Via 3L Group.