Vilniaus Prekyba's subsidiary Ermi Group signed a sales and purchase contract with the Bauhof's owner MyInvest Estonia in June.
"Entering a foreign market, we wanted to find the best partner and chose Bauhof after seeing its huge potential. It's a solid and well-operating organization," Ermi Group's director Marijus Krisciunas said.
The Bauhof brand will not be changed. Ermitazas has nine stores in Lithuania, with three new set to be opened later this year.
According to the statement, Bauhof is a leader on the Estonian market of construction materials. Its turnover stood at 97 mln euros last year, and net profits was 3.1 mln euros.
Ermitazas earned 2.2 mln euros in profits last year. And its turnover stood at 85.7 mln euros.
