Finnish concern Veho to acquire Mercedes-Benz representative in Latvia Domenikss / Article

The Finnish concern Veho will acquire the business of Domenikss, the general representative of Mercedes-Benz, in Latvia, however, the transaction has yet to be approved by the Competition Council (CP).

According to the companies, the transaction involves the import, retail and maintenance of Mercedes-Benz cars and commercial vehicles.

Following the acquisition, Domenikss, which has so far been owned by Benita Danilenko, will continue to operate as a separate company without changing its brand and offices.

In a corporate statement on the deal, Danilenko noted that the decision to sell his own company was made several years ago.

The parties have agreed not to publish the sale price or any information related to the transaction.

The transaction has yet to be approved by competition authorities.

CONTEXT:

Veho is a car distributor in Finland, Sweden, Estonia and Lithuania. The company offers cars and commercial vehicles manufactured by the Daimler Group, as well as various services. Veho closed 2020 with a turnover of 1.1 billion euros. The company was founded in 1939 as the general representative of Mercedes-Benz and has been family-owned ever since. The company “Domenikss”, founded and managed by Danilenko, closed last year with a turnover of 37.7 million euros.

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