02/10/2012

LitCapital added a fifth company to its investment portfolio by signing an agreement to invest into a third party logistics (3PL) company NNL LT UAB. The investment will be used to support and facilitate further business expansion. Main business activities of NNL LT are logistics, warehousing, and expedition services. NNL LT is comprised of two companies – Nordnet UAB and Tehoreal UAB. The investment is particularly attractive because NNL LT UAB is the only independent temperature controlled food products logistics company in Lithuania covering the full service range.

Nordnet UAB is specialized in services for chilled and frozen products logistics. Currently, Nordnet mainly serves Lithuanian market, offering daily warehousing, order picking and transportation services as well as providing on-demand cargo forwarding and transportation for freights. The integrated company’s services’ offering reflects the developing markets’ trends, where one-stop logistics solution providers acting as full supply chain managers are increasingly more popular.

Nordnet UAB now has approximately 130 employees. Top Management have been with the company since its founding as the same people are its shareholders too. They have educational background in logistics and business management as well as many years of experience in logistics sector, successfully leading and growing Nordnet business even during the general economic down turn.

Currently the main clients of Nordnet UAB are the biggest Lithuanian retailers, producers, importers and distributors of frozen and chilled food products. Lithuanian frozen and chilled products markets in 2011 increased by 11% and 8% respectively. Because of changing general life style and the need for convenience the frozen and chilled foods market substantial growth is forecasted for the upcoming years in the whole of Europe.