15/02/2020

Private Equity Fund LitCapital I, has sold all of its interest in NNL. NNL is a Lithuanian company, which provides warehousing and logistics services, mainly specializing in distribution of chilled and frozen products. The company which has been partly acquired in November, 2012, owns and operates frozen and chilled products warehouses with approximately 20 000 sq. m. in Lithuania and Latvia. NNL is the only independent temperature-controlled food products logistics company in Lithuania that is not involved in product trade/wholesale. The Company also provides international forwarding services. In 2018, the company’s revenue stood at 16.1 m. Eur, with a total number of personnel exceeding 250.

Since being established in 2004, NNL has grown to be a regionally known player. Currently, the company operates within several business sectors: 3PL (or third party) logistics under Nordnet in Lithuania and Latvia, warehousing services and real estate under NNL Termo, and international forwarding (LitCargo). On a yearly basis, NNL handles up to 200 000 picking and transportation orders, transports 30 million kilograms of frozen foods, up to 8 million kilograms of chilled foods, and up to 1 million kilograms of fish on ice.

Further, Litcargo which deals with partial truckload freight and international logistics services throughout Europe, serves over 400 producers and importers. This includes the largest retail chains in Lithuania such as Maxima or Norfa. As of today, the company delivers goods to Latvia and Estonia on a daily basis, and to Western Europe at least once a week.

Litcapital I’s Founder and Managing Partner Mr Šarūnas Šiugžda, said that “It was a true pleasure to work with NNL’s management team. Both Mr Česlovas Kazlauskas and Mr Danielius Merkinas have shown an exceptional level of professional throughout our partnership giving me sufficient confidence that the company is in good hands.” Whilst summarizing the achieved results, Mr Šiugžda added, that “NNL has has not only surpassed the market in terms of growth, expanded portfolio of high quality services, but developed a unique and effective approach to sales and achieved operational excellence well above expectations, all thanks to knowledgeable team of managers”.