Lithuania-owned parcel delivery company, Venipak, has purchased an e-commerce wholesaler which represents the likes of LEGO, L’Oreal, Disney and Mattel.
The acquisition of Strengholt Entertainment BV, which was more than a year in the making, and is expected to form the basis for the expansion of Venipak’s e-fulfilment arm in Europe and the expansion of its air freight services across Europe, Asia and the Americas.
The company’s business model will also change with its logistics now complemented by whole-sale channels for e-commerce.
Nerijus Raudonis, Venipak Group founder, said the company plans to set up 200 e-fulfilment centres in Europe where it will distribute goods. Plans are also underway to include Chinese and American branches in the wholesale trade.
According to the company, while Strengholt had a wide range of products, a developed IT infrastructure and a network of partners, they didn’t have an international model to bring their products closer to customers, to reach them faster.
“We will fill this gap in Europe and connect it to the Asian and US markets,” said Venipak General Manager, Justas Šablinskas.
“Almost none of the e-commerce businesses operating in the Baltics have the kind of service that we will receive from Amazon, so as intermediaries, we will open up new business development opportunities for our customers.”
Venipak currently operates in the Baltic states, Poland and China. It provides parcel delivery, e-fulfilment and air freight with 251 self-service parcel delivery terminals in Lithuania and 201 in Latvia. In Estonia, the network of self-service parcel delivery terminals is currently being rolled out and two thirds of the planned 151 are already operational.