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Kustaa Äimä, managing partner of KJK Management stated, “We are thrilled to add Baltic Vairas to the KJK Sports portfolio. This strengthens KJK Sports’ position as the leading bicycle producer in the European market. The acquisition of Baltic Vairas opens significant synergy options with Leader 96 and also brings valuable contacts and know-how.” Further, Jeffrey Tirman, CEO of KJK Sports commented that, “With the purchase of Baltik Vairas, in combination Leader 96, KJK Sports is now the largest contract bicycle manufacturer in Europe, with current annual production in excess of 550,000 units (including both regular and e-bikes), and capacity of nearly 1,000,000 bicycles.” Žilvinas Dubasas, CEO of Baltik Vairas also commented that, “We are excited to be joining the KJK Sports group of companies and look forward to cross-platform fertilisation of branding and marketing ideas, as well as achieving synergies and gaining access to new competencies.”

The COBALT Law Firm and EY, both based in Vilnius, acted as legal and financial advisors for KJK.

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