WARSAW, POLAND: Polish retail grocery chain Stokrotka has signed an agreement to take over 9 grocery stores that are operating in Poland in the region close to Warsaw.
The transaction is planned to be completed until the end of 2021, subject to certain conditions to be fulfilled according to the agreement, including unconditional antitrust approval.
In 2020 sales of 9 stores operations to be taken over amounted to more than EUR 20 million. Stokrotka is a Polish grocery retail chain and at the end of 2020 operated over 700 own and franchised stores. Stokrotka belongs to Maxima Grupė since 2018.
“Signing this agreement strengthens the position of Stokrotka in Warsaw region, a market that is very important to us. Locations taken over will enable us to reach a wide range of new customers and strengthen our brand in towns that are new for Stokrotka,” says Arūnas Zimnickas, Managing Director and President of the Management Board of Stokrotka.
“We are focused on expansion in the Polish market, which is accomplished through fast organic growth as well as acquisitions of smaller retail chains, that provide a good fit with the Stokrotka business model,“ says Mantas Kuncaitis, Maxima Grupė CEO and Chairman of the Board.
Maxima Grupė owns the retail chains Maxima (in the Baltic countries), Stokrotka (in Poland), and T-Market (in Bulgaria), as well as e-grocer Barbora operating in the Baltics and Poland. As at the end of 2020, Maxima Grupė owned over 1,300 stores in 5 countries and its turnover amounted to EUR 4.2 billion.
The company is part of the Vilniaus Prekyba group, which controls and manages the group of subsidiary companies operating chains of retail stores and pharmacies as well as real estate development and property management companies in the Baltic States, Sweden, Poland and Bulgaria.
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27 May, 4:00 pm GMT-4 · Disclaimer
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