Oriola has signed an agreement to sell its Baltic businesses to the companies' existing management (SIA Oribalt Group). Oriola's Baltic businesses comprise of the following subsidiaries: AS Oriola, Oriola Estonia Oü, SIA Oriola Riga, SIA Panpharmacy, and UAB Oriola Vilnius.
Oriola to sell its Baltic businesses
The net sales of the Baltic businesses in 2016 were EUR 54 million, the adjusted EBIT EUR 1.2 million and the number of personnel was 160. The goal is to complete the transaction by the end of the third quarter in 2017.
"We want to focus on developing our business in Finland and Sweden where we see great potential and have initiated extensive development projects. In accordance with our strategy, we have decided to sell the Baltic businesses to the companies' existing management. Oriola unites operators in the healthcare sector and consumers in a unique way in the Nordic countries. We offer excellent service in a safe and customer friendly manner," says Kimmo Virtanen, Oriola' s Executive Vice President.
"We are very happy with this acquisition. Our acquiring group has several years of experience in leading the Baltic businesses, and we are excited to continue developing them further as owners. The high quality of services and long-term business development are our top priorities also in the future", says Pekka Ruokanen, SIA Oribalt Group's Director.