Stokrotka, owned by Maxima Grupė, acquired retail chain Sano
Retail chain Stokrotka, owned by Maxima Grupė since this spring, acquired Sano, another retail chain that is operating in the Polish market. The company was acquired from related shareholders. The merger of the companies is planned to be completed in the beginning of 2019.
Sano owns 36 shops in north-west part of Poland, it also provides e-commerce services. In 2017, turnover of Sano amounted to more than EUR 71 million. The company has around 900 employees.
“We will focus on Polish market in the upcoming years, as we are planning rapid expansion there. One of the priorities in our strategy for Polish market is the integration of already existing businesses. Sano acquisition and merger with Stokrotka will let us strengthen positions in the north-west region of Poland. We will also take advantage of Sano know-how in e-commerce which will open new opportunities for business development“, says Maxima Grupė Chairman of the Board and CEO Dalius Misiūnas.
Stokrotka acquired 100 percent shares of Sano from Miglione Investments Limited based in Cyprus. It is owned by individuals who are indirect shareholders of Vilniaus Prekyba.
After the acquisition of Sano, Maxima Grupė currently owns 551 stores of different format and size in Poland. Almost 9 thousand employees work in these stores. Total turnover of retail chains owned by Maxima Grupė in Poland (Stokrotka, Aldik and Sano) would have amounted to more than EUR 720 million in 2017.
As of the end of November, Maxima Grupė owned almost 1070 stores in 5 countries. By the end of this year, the company plans to open a total of about 40 more new stores in all markets.
Decision about brands integration will be taken in the begging of next year.
Maxima Grupė is the owner of the Maxima retail chain in the Baltic States, the Stokrotka chain in Poland, the T-Market chain in Bulgaria and e-grocer Barbora which operates in Lithuania and Latvia.
This year, in September, the company successfully placed a EUR 300 million issue of 5-year bonds.
Maxima Grupė is part of the Vilniaus Prekyba group, one of the largest retail groups in the Baltics and Central and Eastern Europe.