August 2019 – KJK Fund III acquires Baltik Vairas
KJK Fund III S.C.A. SICAV-RAIF, acting through its Luxembourg-based sporting goods investment company, KJK Sports, acquired 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.”