MidEuropa has entered into a definitive agreement to acquire UAB Pigu and combine it with Hobby Hall Group OU, creating a leading e-commerce platform in the Baltic region.

Information on the Target

UAB Pigu is a prominent e-commerce platform operating within the Baltic region, boasting several million registered customers and a diverse array of over 2,000 merchants on its proprietary marketplace. The company has developed a portfolio of online shopping destinations, including well-known sites such as pigu.lt, kaup24.ee, hansapost.ee, 220.lv, xnet.lv, and hobbyhall.fi. Recently, Pigu has gained a stronger foothold in Lithuania, Latvia, Estonia, and is expanding its presence in Finland, positioning itself as a leading player in the e-commerce market.

The acquisition by MidEuropa indicates a strategic maneuver to leverage Pigu's steadfast customer base and extensive merchant network, aiming to create a comprehensive online shopping experience that meets the evolving demands of consumers across the region. This combination with Hobby Hall Group OU (HHG) is anticipated to enhance operational efficiencies and provide a superior value proposition to customers.

Industry Overview

The Baltic e-commerce sector is witnessing significant growth, fueled by increased internet penetration, a tech-savvy consumer base, and robust mobile commerce trends. Lithuania, Latvia, and Estonia are particularly characterize