Lithuania, Markets and Companies, Mergers and take-overs, Retail
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Friday, 19.04.2024, 00:53
ICA Gruppen: We'll merge what Lithuania's Iki, Rimi have best
BC, Tallinn, 10.02.2017.
Print version
Print versionSweden's ICA Gruppen, which operates Rimi Lietuva retail chain in Lithuania, will shortly submit the necessary documents to the Competition Council in connection to the intentions of buying another retailer Palink, the operator of Iki supermarkets, LETA/BNS said according to Verslo Zinios business daily information,
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"We are starting to develop the structure of the new company, names of stores and the management team. However, we cannot start the integration process until the deal has been endorsed and finalized," said Therese Lystedt, spokeswoman for ICA Gruppen, noting that the deal will result in the merger of the best aspects that both companies have.
In her words, Lithuania's market is the biggest in the Baltic states, however, Rimi Baltic has so far had the smallest share of the market here. “We can define the Lithuanian grocery market as featuring very intense competition,” said Lystedt.
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