Cosmetics wholesaler Kruzas has been acquired by Berner
The Finnish company Berner Ltd. has acquired UAB Kruzas Nordic Cosmetics Distribution, a leading independent cosmetics wholesaler in the Baltics.
UAB Kruzas Nordic Cosmetics Distribution is one of the largest independent cosmetics and perfume importers and wholesalers in the Baltic countries. In 2007, the company opened its subsidiary SIA Kruzas NCD Latvia and in 2009, it expanded to Estonia. The firm has over 90 employees across the region. UAB Kruzas Nordic Cosmetics Distribution represents international brands such as Antonio Banderas, Bourjois, Collistar, Isadora, Lierac, Lumene, Make up Forever, Rimmel, COTY, Sebamed and Vichy.
Berner is a Finnish family-owned company that has built its product brands over 130 years. The company’s key focus is on cosmetics. It is also engaged in the manufacturing and distribution of consumer and sports products and agriculture production. This acquisition of an existing wholesale company will help consolidate Berner’s presence in the Baltic states.
Oaklins’ team in Lithuania acted as the exclusive financial advisor to the seller in this transaction.
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