AbeStock AS, a wholesale trading company, is acquiring AS Sales-Star's wholesale food and primary consumer goods business. Both companies represent dozens of well-known local and international brands.
The experience in wholesale trade of both companies belonging to Estonian entrepreneurs spans to over 25 years and they are united by similar values such as quality of service, customer focus and efficiency.
"AbeStock wishes to expand its product portfolio and provide additional services, such as brand marketing and product placement service, but in particular to provide even better service quality and efficiency to its partners,” said Mart Vips, chairman of the supervisory board of AbeStock's owner company ABC Group AS.
“We are pleased that the business of Sales-Star will continue from now on in AbeStock, who will become one of Estonia's most important wholesalers of primary consumer goods via this deal,” stated Sven Mansberg, chairman of Sales-Star supervisory board. “It gives us the opportunity to focus fully on logistics in the future. AbeStock will also become one of the biggest customers of Smarten Logistics.”
The transaction shall enter into force after the authorization has been obtained from the Competition Authority. The buyer was advised by Ellex Raidla law firm.
AbeStock operates in Estonia, Latvia and Lithuania and is a part of the ABC Group, which is one of the largest commercial groups owned by Estonian capital. The ABC Group unites various trading companies and employs more than 500 people. AbeStock was founded in 1992, and today its product portfolio consists of world-scale leading producers and well-known brands. AbeStock's sales turnover last year was nearly 21 million euros.
A full-service distributor AS Sales-Star was created in 1993 on the basis of Estonian sales and logistics company Smarten. Sales-Star has a long experience in sales and marketing. As a separate company, Sales-Star has been operating since 2002 and represents many leading and strong brands.