Estonia, Investments, Markets and Companies, Retail

International Internet Magazine. Baltic States news & analytics Monday, 20.05.2019, 01:52

UP Invest exiting food retail business

BC, Tallinn, 18.02.2019.Print version
UP Invest, holding of Estonian businessman Margus Linnamae, has decided to exit the business of food related retail and will discontinue the operation of the units supporting it, reported LETA/BNS.

UP Invest has begun divesting the Biomarket chain of organic stores and will in that connection discontinue also the business of e-retailer FreshGO. The client relationships currently outstanding will be fulfilled by FreshGO to the end.

Negotiations on the sale of the holding in Biomarket have started with potential buyers and they are expected to be completed within the first half of 2019.  

UP Invest Board Member Marko Virkebau said UP Invest wishes to focus on its core business in the fields of healthcare, media and entertainment.

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