We assisted in the sale of catering businesses

Ellex Valiunas’ team implemented the first major M&A transaction in Lithuanian catering businesses.

Gediminas Balnis, CEO and shareholder of Amber Food, one of the largest restaurant groups in Lithuania, bought 80 percent of the group’s shares from other companies. After the transaction, he became the sole shareholder of more than 40 restaurant businesses.

The agreement of the parties does not disclose the value of the transaction.

The legal team of Ellex Valiunas has prepared all the necessary agreements and legal documents needed to formalize all share transfer transactions, based on which the other companies transferred the restaurant business to G. Balnis. At the same time, G. Balnis transferred his stake in the real estate to the former shareholders of the restaurant chain.

Amber food is a catering business group operating in Lithuania for almost 15 years and unites many different brands, owns more than 40 restaurants and employs more than 1,200 people. In 2021, the group’s consolidated turnover amounted to 27.8 million. EUR (excluding VAT), companies paid EUR 3.5 million per year. euro in taxes.