Posts Tagged ‘Retail’

Denmark’s largest retailer will purchase Rimi, a Baltic retail chain, Salling Group and ICA Gruppen, the chain’s current owner, announced today. The deal makes Salling one of the largest supermarket operators in the Baltic region.

According to ICA Gruppen, the value of Rimi’s retail business in Lithuania, Latvia and Estonia is around €1.3 billion.

Salling will take over €500 million of Rimi Baltic’s debt, which is mainly made up of lease liabilities. The transaction will increase the company’s capital by €630 million and generate cash inflows of €810 million.

Salling said the acquisition of Rimi is the largest transaction its history. It will now own 2,100 supermarkets in the Baltic states, Denmark, Germany and Poland.