International wholesaler of cosmetics, perfumes, salon products and non-prescription medicines Sirowa acquired well-known Estonian wholesaler of perfumery and beauty products.
During 2022–2023, Grant Thornton Baltic provided advisory services to Sirowa Tallinn AS – an entity belonging to an international Sirowa group – for purchasing Riviera International AS. Riviera International is engaged in the wholesale and distribution of perfumery and cosmetics .
Grant Thornton Baltic advised Sirowa Tallinn in the following areas:
- Negotiation and stipulation of the terms of acquisition.
- Conducting legal and financial due diligence to verify whether the underlying asset meets the buyer’s expectations and conditions.
- Drafting of legal documents and participation in negotiations of the transaction terms.
- Carrying out the concentration process (incl drafting the notice of concentration).
The transaction was closed in spring 2023 upon the receipt of permission for concentration from the Estonian Competition Authority.
The project was managed by Grant Thornton Baltic’s partner Kristel Tiits and significant contributions were made by our Baltic legal and financial advisers Uljana Feldman, Erik Suits, Eve Lille, Karin Küttis, Arnold Vahtra, Aleksandrs Vellers, Inese Lapaine and Davit Gyulbudaghyan.