Latvia, Legislation, Markets and Companies, Retail

Maxima Latvija board chairman Andris Vilcmeiers said that Maxima Latvija as one of Latvia’s largest companies and employers will continue to actively participate in solving issues important for the sector, economy and public welfare both on the level of highly qualified specialists and through research and expertise. "Our specialists regularly take part in solving issues in the food sector, labor market and other problems, in the future we plan to expand our activities in this respect," he said.

Since last year Maxima Latvija has increased its engagement in public processes – the company joined the Latvian Employers Confederation and the Foreign Investors Council in Latvia and continues cooperation with many other organizations.

LPTA executive director Noris Kruzitis told LETA that Maxima Latvija has suspended its activities in the association, and the association’s council has approved its application. "The association will continue operations in line with its principles and values. It has been established with a goal to promote development of the food retail sector," said Kruzitis.

As reported, Maxima Latvija closed 2016 with a turnover of EUR 694 million, which is 0.7% more than in 2015, while the company's profit decreased 37.5% to EUR 11.98 million.

Maxima Latvija, founded in 2000, is one of the leading retail chains in Latvia. At present there are 154 Maxima stores in Latvia: 126 Maxima X stores, 24 Maxima XX stores and four Maxima XXX supermarkets.

Founded in 2010, LPTA now comprises Latvia’s food retailers Narvesen and Rimi.