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Waldec Oy Ab, based in Vantaa Finland, has acquired the Estonian company CLE Baltic OÜ.

100% of the shares of CLE Baltic OÜ (Ltd), with offices in Tallinn, Riga and Vilnius, was bought by Waldec Oy Ab on 5.1.2015

Waldec currently operates in Finland, Sweden, Denmark, Norway and St. Petersburg as an agent for premium Industrial brands. Through this acquisition Waldec will additionally gain access to the whole Baltic market.

Estonia, Latvia and Lithuania have a combined population of six million. The workforce is young and dynamic and the economies are among the fastest growing in Europe. Thus it was a strategic decision to expand Waldec’s activities to the Baltic countries.

CLE Baltic has currently eight employees who will all follow with the purchase into the new company structure. CLE Baltic will continue its activity as an independent subsidiary of Waldec Oy Ab. Mr.Roland Rebane remains in his position as Managing Director of CLE. The synergy of the combined sales experience of Waldec and CLE Baltic will give a boost to the future sales in both companies. Mr. Christer Gustaf Lindholm also remains at CLE Baltic as a senior advisor.

Aronia acted as adviser to CLE Baltic OÜ.