On 29 November Baltika signed agreements on the purchase of the Bastion trademark and the acquisition of retail stores operated under the Bastion trade name. Bastion is an Estonian fashion brand created in 1987, which has own retail stores network and whose sales for 2011 totalled 1.4 million euros.
Six retail stores operated under the Bastion trade name in Estonia will be taken over from OÜ Bastion by Baltika’s subsidiary OÜ Baltman as from 1 December 2012. One store in Latvia will be taken over by Baltika’s subsidiary SIA Baltika Latvija as from 14 December 2012.
Baltika operates with Monton, Mosaic, Baltman and Ivo Nikkolo trademarks and addition of Bastion to the brand portfolio will allow the group to expand its target group of customers, to offer a wider product range and to increase its market share in the Baltics.
The parties have agreed that the price of the transaction will not be disclosed. Transaction does not qualify as significant acquisition pursuant to the rules for “Requirements for issuers” established by the NASDAQ OMX Tallinn Stock Exchange and has no significant effect on the operations of Baltika Group.
As Baltika confirms that the above-mentioned transaction does not constitute a transaction with a related party and the members of the Supervisory and Management Boards of AS Baltika do not have any other personal interest in the transaction.
Maigi Pärnik
Member of the Management Board
maigi.parnik@baltikagroup.com