In 2023, the German family company Bodo Möller Chemie bought the distribution rights of the brands Loctite, Teroson and Technomelt from Henkel and established a subsidiary Bodo Möller Chemie Baltics OÜ to deal with the resale of Henkel's adhesives and sealants in the Baltics. The founding of the subsidiary was advised by Grant Thornton Baltic.
At the same time, Tartu-based Bodo Möller Chemie Baltics OÜ became the second largest branch of the parent company in Eastern Europe. Kristjan Järve, partner of Grant Thornton Baltic and head of tax, emphasized that it was a difficult project, as there was only three months, during which a subsidiary company had to be established for a client with a complex business model and to advise him on taking over the business direction of adhesives purchased from Henkel in the aspects of taxes, labor law and accounting. "We cooperated with colleagues from Grant Thornton in Latvia, Lithuania and Poland, and of course we constantly communicated with the client. Despite the fast pace, the subsidiary was established on time," explained Kristjan Järve.
Services provided by Grant Thornton Baltic to Bodo Möller Chemie:
- Advising on choosing the appropriate legal structure for operations in the Baltics,
- Baltic subsidiary establishment procedures,
- VAT analysis of the Estonian, Latvian and Lithuanian supply chain,
- Advising on the takeover of a business purchased from Henkel Balti OÜ in tax, labor law and accounting aspects,
- Setting up pan Baltic accounting with coordination from Estonia.
In addition to Kristjan Järve from Grant Thornton Baltic, Merli Kesküla, Gaily Kuusik, Ruth Rebane, Anastassia Volmerson and Deiwi Aru, as well as several tax and accounting specialists from Latvia and Lithuania participated in the project.
Founded in 1974, Bodo Möller Chemie operates in more than 30 countries. As a distributor of BASF, DuPont, Dow, Henkel and Huntsman products, among others, the company combines the technological solutions of market leaders in the field of chemical industry and years of experience in process and application technology.