"We have worked in leased premises until now, but they have become too small for our production capacities. We will now move to the new premises and will expand our production capacities," Peikko Lietuva Director Tomas Bulota told BNS.
Both companies told BNS that they had agreed not to disclose the value of the deal.
Peikko Lietuva last year posted a net profit of 911,000 litas (EUR 264,100), more than a six-fold increase from 147,000 litas in 2010. Its sales revenues jumped by 20.3 percent to 19.901 million litas.