The transaction is intended to ensure the continuity of one of Lithuania’s long-standing publishing houses, preserve its accumulated cultural capital, and create new opportunities for its future development. LAPAS emphasizes that the VAGA name will be retained, and that both publishing houses will continue to operate as independent publishing brands under one editorial roof.

“This is not so much a business decision as a sentimental step. I am very grateful to Vytas for deciding to entrust this historic publishing house, which he preserved through its most difficult years, to Lapas's editorial team. I grew up in a home where the most important feature of the living room was always a shelf full of books published by Vaga. I always knew that my grandfather, Kazys Ambrasas, had once been editor-in-chief of Vaga. Although I never knew him, the many notes he left in the books he read indirectly encouraged me to pursue editorial work.

This is how Lapas was born – an independent, somewhat avant-garde, non-profit publishing house. Today, I feel a great sense of responsibility in taking over Vaga, both as a successful business and as the guardian of an 80-year legacy of Lithuanian fiction publishing,” says Ūla Ambrasaitė, founder of Lapas.

Preserving a long-standing name

According to Ambrasaitė, the aim is for Vaga to preserve its name, authority, and significance in Lithuanian culture, while also finding new momentum.

The AVERUS team advised Lapas on the legal aspects of the transaction. AVERUS contributed to the transaction structure, document preparation, and negotiations, helping to align not only the commercial aspects of the deal but also the continuity, identity, and business transfer matters that were particularly important in this transaction.

“In transactional practice, we often talk about the allocation of risks, obligations, warranties, and deadlines. All of this is, of course, necessary. However, in this project, another dimension was very clearly present – respect for the history of the publishing house, its authors, readers, and the people who built the Vaga name over more than eight decades. It was therefore important that the legal solutions helped ensure a smooth transfer while preserving the continuity of this name,” says Mantas Juška, Associate Partner at AVERUS, who advised Lapas on the transaction.

It should be noted that the transaction covers only the publishing house VAGA. It is not related to the Vaga bookstore chain, which will continue its retail operations in bookstores and online.

Both publishing houses will continue to operate

Representatives of Lapas say that, in the near future, the main objective will be to ensure a smooth transfer of Vaga’s operations, preserve relationships with authors, translators, and partners, and prepare a long-term publishing strategy for Vaga.

Lapas and Vaga will not be merged into a single publishing house. Both will continue to operate as independent publishing brands under one editorial roof. The transaction allows Lapas to further refine its catalogue of well-recognised architecture, art, design, and culture publications, while Vaga will continue to strengthen its position as a publisher of fiction, psychology, anthropology, and business management books.

Read more about the deal in the business daily Verslo zinios and LRT

More information:

Mantas Juška