BaltCap Private Equity Fund III (BPEF III) signed an agreement to acquire Alma Littera publishing house, Pegasas bookstores, and related group companies to further back the growth of the largest publishing house & omnichannel book retailer in the Baltics. The current management team will continue with the company. The transaction is subject to competition clearance.
“We are investing in a company with a long history, proven track record, and well-established brands in the Lithuanian book publishing and retail markets. The sector is still fragmented, and we believe the companies of Alma Littera Group are positioned to capture further growth. We see opportunities in digital distribution and new book formats, which create new incremental consumer occasions,” said Oliver Kullman
, Partner at BaltCap.
Founded in 1990 in Lithuania, Alma Littera Group is the largest integrated general book publisher and retailer based in Lithuania, operating via publishing house UAB Alma littera, wholesaler UAB Alma littera sprendimai, book retailer UAB ALG knygynai, 3PL logistics provider UAB ALG logistika, and book e-commerce website UAB Knygų Klubas.Arvydas Andrijauskas
, founder and shareholder of the Alma Littera Group, says that the interest from an international fund manager like BaltCap shows they have succeeded in building an attractive and sustainable business. Andrijauskas trusts BaltCap’s long-term experience and professional team will guide the company towards achieving ambitious growth goals both in Lithuania and abroad.
The buy-side advisers in the transaction were Ellex and Persense. The transaction value and other details have not been disclosed. The transaction is subject to competition clearance – BaltCap has already applied to the Competition Council and the deal is expected to be approved within 1-2 months.