Veho acquires the general representative of Mercedes-Benz in Latvia
Finnish company Veho has concluded the acquisition of Domenikss – the general representative of Mercedes-Benz in Latvia from entrepreneur Benita Danilenko.
The transaction value and terms are confidential and have been approved by the Competition Council of the Republic of Latvia.
The deal includes import, retail and maintenance of Mercedes-Benz passenger and commercial vehicles. It complements the acquisition of Silberauto in Estonia and Lithuania by Veho in 2019 and will strengthen Veho’s position in the Baltic region due to the acquisition of Domenikss.
Following the acquisition, Domenikss will continue to operate as a separate company. Its brand and offices will not change at this time.
Veho is a car distributor in Finland, Sweden, Estonia and Lithuania. In 2020, Veho had a turnover of € 1.1 billion and 2,200 employees. The company was founded as the main distributor of Mercedes-Benz in Finland in 1939 and has been family-owned since then.
Veho was advised by associate partner Maris Brizgo and senior partner Raimonds Slaidins at Ellex in Latvia, in cooperation with the Finnish law firm Dittmar & Indrenius.