On November 24th, Livonia Partners Fund I sold 100% of its shares in Hortes, Estonia’s most recognizable gardening retail brand.
Hortes was sold to OU Hemm Arendus, controlled by Hortes management. The transaction also involved an investment of new funds into Hortes, allowing the company’s management to pursue their vision for further developing the concept of Hortes in Estonia. Hortes co-owner and CEO Kadri Ulla: “Hortes is the most-loved gardening brand in Estonia. With Livonia’s support, we have expanded our footprint in Tallinn and launched a new e-commerce platform. In the future, we would like to continue to be the most trusted provider of plants in Estonia, offering an even wider choice of plants to our customers in the Spring and developing new distribution channels.”
Livonia Partners invests in companies that are leaders in their markets and are led by teams of courageous managers. “We value the opportunity to work with Kadri Ulla and Karol Kroger, who, in addition to leading the company with incredible dedication, have now become its owners, demonstrating their unwavering belief in this brand” states Kristīne Bērziņa, a founding partner at Livonia Partners.