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Rimi Baltic

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RIMI Baltic
Company typePrivate
IndustryRetail, general merchandise
Founded2004; 20 years ago (2004)
HeadquartersRiga, Latvia
Area served
Estonia, Latvia, Lithuania
Key people
Giedrius Bandzevičius[1]
ProductsGroceries, consumer goods
RevenueSEK18.482 billion
€1.739 billion (2022)[2]
747,698 Euro (2023) Edit this on Wikidata
Total assets8,966,894 Euro (2023) Edit this on Wikidata
Number of employees
12,000[3]
ParentICA
SubsidiariesRimi Estonia (Rimi Eesti Food AS)
Rimi Latvia (Rimi Latvia, SIA)
Rimi Lithuania (Rimi Lietuva, UAB)
Websitehttps://www.rimibaltic.com/

Rimi Baltic is a major retail operator in the Baltic states based in Riga, Latvia. It is a subsidiary of Swedish group ICA. Rimi Baltic operates 291 retail stores in Estonia (84 stores), Latvia (132 stores) and Lithuania (71 stores) and has distribution centres in each country.[4]

The interior design of the smaller Rimi hypermarkets (known as compact hypermarkets) can also be seen in ICA's smaller hypermarkets in Sweden, such as ICA Maxi Västra Hamnen in Malmö and ICA Maxi Enköping.

The stores have different profiles, depending on range of products and size:

History and ownership

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The retail operator history begins with the opening of the first retail in Latvia, the Dole shopping center, in February 20, 1997.

Rimi Baltic was created in 2004 when Finnish Kesko and Swedish ICA agreed to merge their operations in the Baltic states in a 50/50 joint venture. Rimi Baltic officially began operations on 1 January 2005.[citation needed]

Kesko previously had 6 K-Citymarket hypermarkets and 45 Säästumarket[clarification needed] discount food stores in Estonia and 5 K-Citymarkets in Latvia and 19 Supernetto discount outlets in Latvia. ICA previously owned 33 Rimi stores (supermarkets and compact hypermarkets) across Estonia, Latvia, and Lithuania. Following the merger, all the K-Citymarket stores were progressively converted to Rimi hypermarkets during 2005.

Towards the end of 2006, Kesko decided to pull out of the joint venture and sold all of its shares in Rimi Baltic to ICA. Rimi Baltic became a wholly owned subsidiary of ICA AB from 1 January 2007. Property deals relating to Kesko's ownership of the former Citymarket sites were completed a few days later.[citation needed]

On December 23, 2016, ICA Gruppen concluded an agreement on the purchase of the Lithuanian company UAB Palink for EUR 213 million.[citation needed] Palink managed the second-largest food retail network, IKI in Lithuania.[5] The Lithuanian Competition Council authorized this acquisition in October 2017 on the condition that 17 Rimi and Iki stores in Vilnius, Kaunas, Klaipeda and Panevezys will be sold to third parties.[6] In mid-March 2018, Rimi Lietuva submitted nominations of potential buyers to the Competition Council. The council did not support them on the grounds that these buyers "would not provide stable and at least as effective competition" as the current company until the deal is implemented. In April, the Competition Council announced that the sale of Iki to Rimi was terminated.[7]

Rimi in other countries

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The Rimi name could also be found in Norway where it has been used on ICA's discount food stores there, but were later operating under the name Coop Norway (the Rimi stores were rebranded to Coop Extra). It has previously been used in Sweden by ICA and in Finland by Kesko, although these stores have since been converted to other formats.

Stores

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Rimi Baltic operates a grocery retail business and has 297 wholly owned stores in Estonia, Latvia and Lithuania. The properties owned by the Group in the Baltic region are also part of Rimi Baltic.[8]

 Latvia: 133 stores
 Lithuania: 83 stores
 Estonia: 84 stores

See also

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References

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  1. ^ "Management - Rimi Baltic". rimibaltic.com. Retrieved 2020-12-23.
  2. ^ "High inflation and strong competitive pressure in a turbulent year".
  3. ^ "About us - Rimi Baltic". rimibaltic.com. Retrieved 2020-12-23.
  4. ^ "About us - Rimi Baltic". rimibaltic.com. Retrieved 2020-12-23.
  5. ^ "Papildināts - Rimi par 213 miljoniem nopērk Lietuvas pārtikas preču mazumtirdzniecības ķēdi IKI". Dienas Bizness (in Latvian). Retrieved 2022-07-06.
  6. ^ "Lietuvas Konkurences padome atļauj "Rimi" pārņemt veikalu tīklu "Iki"". TVNET (in Latvian). 2017-10-18. Retrieved 2022-07-06.
  7. ^ ""Rimi" Lietuvā tomēr neizdodas pārpirkt "Iki" veikalus". Jauns.lv (in Latvian). Retrieved 2022-07-06.
  8. ^ "About Rimi Baltic".
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