Norwegian company Reitan Servicehandel acquired over 1,000 R-Kiosk convenience stores operating in Estonia, Finland and Lithuania from Finnish Sanoma on Sunday.
The purchase price of the stores that hold a leading position in their segment on all three markets was approximately 130 million euros, the company said in a statement.
"This acquisition makes us Europe’s second largest convenience store operator – an achievement of which we are very proud," said Magnus Reitan, CEO of the company.
Last year, the gross receipts of the Norwegian company were around 1.48 billion euros.
As a result of their latest acquisition, their sales revenue is expected to increase to approximately 1.88 billion euros. The company will operate 2,500 convenience stores in seven countries, employing over 18,000 people.
Last year, the R-kiosk chain generated 404 million euros of gross receipts.