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Hansa Candle, the largest candle manufacturer in the Baltics, has new owner

50% owners of Hansa Candle AS sold their shareholding in parent company MCC Group AS to DOORopener OÜ. Hansa Candle is the largest candle manufacturer in the Baltics and one of the largest employers in Viljandi County and has been operating since 1996.

Transaction price and details are confidential as agreed by the parties. Transaction was financed by Coop Pank bank.

Founded in 1996, Hansa Candle is one of the largest candle manufacturers in Europe. The company mainly produces indoor and outdoor candles and, to a lesser extent, igniters. The company owns a factory in Viljandi that employs 124 people. Hansa Candle products are represented both in Estonia and abroad, and most of the revenue comes from export markets.

Seller Tarvo Moss said that the buyer will have a strong company with dedicated team. "Hansa Candle is in excellent financial condition and with great development potential, whose products and services are highly valued by customers. The years 2019-2020 have been the best in the company's 25-year history. I sincerely thank all our good employees for their cooperation and trust!" said Moss.

Harri Juhani Aaltonen, the manager of Hansa Candle and the manager of the new owner DOORopener OÜ, said that Hansa Candle has shown good growth in recent years. "Major part of sales revenue comes from exports, our products can be found in almost every European city, but also in the USA, for example. I intend to further develop the company by expanding the product portfolio and further increasing the visibility of Hansa Candle products in export markets, "said Aaltonen.

Arko Kurtmann, a member of the Management Board of Coop Pank, who financed the transaction, said that the bank thoroughly analysed the submitted business plans and decided to support the financing of the share purchase transaction. “As one of the largest employers in Viljandi County, Hansa Candle is a good example of a traditional production company with great potential. We also see Coop Pank's growing role in supporting the development of other Estonian companies to contribute to the development of the Estonian economy, "said Kurtmann.

Hansa Candle group share purchase transaction was advised by Maria Klaos from UPLEGAL law firm and Rando Maisvee from MOSS Legal law firm on the sellers' side, and by Karin Madisson and Robin Teever from SORAINEN on the buyer's side. Financial advisor of the transaction was investment banking company Redgate Capital.

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