Sweden's ICA to sell Rimi stores in the Baltics to Danes
Swedish retail group ICA Gruppen announced on Wednesday that it is selling its Rimi stores in the Baltic states to Danish retail giant Salling Group.
Denmark's Salling Group is set to acquire Rimi stores for €1.3 billion, taking ownership of 314 stores located in Estonia, Latvia and Lithuania. As part of the deal, Rimi's e-commerce platform, warehouses and logistics centers will also change ownership.
Rimi employs nearly 11,000 people across the Baltics. Since 2007, Rimi has been owned by ICA Gruppen, Sweden's largest grocery retail company. Now, Rimi is entering a new chapter under the wing of the Danish retail giant.
ICA Gruppen has announced that it will now focus on the Swedish market. According to ICA, Rimi will continue its journey with a new owner that has ambitions for international growth.
"This transaction benefits both ICA Gruppen and Rimi Baltic," said ICA Gruppen CEO Nina Jönsson.
Salling Group stated that Denmark and the Baltics share strong ties and that the company and Rimi uphold common values. Salling Group itself is Denmark's largest retail company.
The deal is still subject to approval by the competition authorities in the Baltic states.
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Editor: Marcus Turovski, Karl Kivil
