Maxima shareholders has acquired leading Estonian retailer of building materials
Company Vilniaus Prekyba, the owner of retail chain Maxima, has acquired Bauhof, the leading Estonian retail chain of building materials, continuing their expansion in the Baltic States.
Building materials and household goods retail chain Ermitažas, which is a subsidiary of Vilniaus Prekyba, has already signed an agreement with Bauhof owner MyInvest Estonia. The transaction will be finalized upon the authorization of the Estonian Competition Authority.
“We are making an important step in realizing the “do-it-yourself” trade sector expansion plans both in Lithuania and abroad. We see big opportunities for the Bauhof network. As solid, well-functioning organization, the company provides excellent services for customers of business, retail and e-commerce,” said Marijus Kriščiūnas, director of the business development company Ermi Group and the head of company Ermitažas.
According to M.Kriščiūnas, the company plans to create a trading and sales network in all three Baltic States. Bauhof brand remains in Estonia and Ermitažas brand – in Lithuania.
“Over the past 15 years, Bauhof has become one of the leaders in the Estonian market for building materials and garden producs. We are very pleased and proud of it. The terms of the sale are acceptable to all parties. Bauhof has now reached a stage of development that we can rely on the company. During the first five months of this year, the company's turnover increased by 10% compared to the same period last year. The sale allows us to start and concentrate on other activities,” said Indrek Fran, Chairman of the Supervisory Board of MyInvest Estonia.
The merger of Lithuanian and Estonian retail chains will benefit buyers in both countries, as a significant expansion will allow to offer a wider range of products at a more attractive price.
In Latvia, Maxima Latvija will invest a total of over EUR 23 million into expansion of customer shopping experience this year. Continuing its aim of ensuring a convenient and available shopping experience for customers, Maxima Latvija is planning on investing EUR 22 million in expanding and reconstructing its chain of stores this year. At the same time, over EUR 1.3 million will be allocated to improve the convenience of customers by continuing the development of its network of self-service checkouts, and another EUR 200,000 to be invested in improving the client services system. Overall, Maxima Latvija is planning on reconstructing 15 stores in Riga and the regions, as well as open five various format stores throughout the country, including several Maxima Express concept stores.
About Bauhof Group AS
Bauhof (www.bauhof.ee), operated by MyInvest Estonia, is the leader in the Estonian building materials retail market. In 2017, the company reported sales revenue of 97 million EUR and net profit 3.1 million EUR. Bauhof has 13 stores with 450 employees.
About Ermitažas UAB
Ermitažas (www.ermitazas.lt) is one of the largest retail chains of building materials, garden materials and household goods in Lithuania. In 2017, sales revenue were 85.7 million EUR and net profit – 2.2 million Euro. Ermitažas has 9 stores and 690 employees.
About Vilniaus Prekyba UAB
Vilniaus Prekyba is one of the largest trading companies in the Baltic States and Central and Eastern Europe region. Subsidiaries Maxima Group, Euroapotheca, Ermitažas and Akropolis Group manage supermarkets, pharmacy chains, real estate development and operator companies in the Baltic States, Poland, Bulgaria, Ukraine and Sweden.
For more information:
Laima Skirienė
Sales and marketing director, Ermitažas
Ph.: +370 687 56606
laima.skiriene@ermitazas.lt
Building materials and household goods retail chain Ermitažas, which is a subsidiary of Vilniaus Prekyba, has already signed an agreement with Bauhof owner MyInvest Estonia. The transaction will be finalized upon the authorization of the Estonian Competition Authority.
“We are making an important step in realizing the “do-it-yourself” trade sector expansion plans both in Lithuania and abroad. We see big opportunities for the Bauhof network. As solid, well-functioning organization, the company provides excellent services for customers of business, retail and e-commerce,” said Marijus Kriščiūnas, director of the business development company Ermi Group and the head of company Ermitažas.
According to M.Kriščiūnas, the company plans to create a trading and sales network in all three Baltic States. Bauhof brand remains in Estonia and Ermitažas brand – in Lithuania.
“Over the past 15 years, Bauhof has become one of the leaders in the Estonian market for building materials and garden producs. We are very pleased and proud of it. The terms of the sale are acceptable to all parties. Bauhof has now reached a stage of development that we can rely on the company. During the first five months of this year, the company's turnover increased by 10% compared to the same period last year. The sale allows us to start and concentrate on other activities,” said Indrek Fran, Chairman of the Supervisory Board of MyInvest Estonia.
The merger of Lithuanian and Estonian retail chains will benefit buyers in both countries, as a significant expansion will allow to offer a wider range of products at a more attractive price.
In Latvia, Maxima Latvija will invest a total of over EUR 23 million into expansion of customer shopping experience this year. Continuing its aim of ensuring a convenient and available shopping experience for customers, Maxima Latvija is planning on investing EUR 22 million in expanding and reconstructing its chain of stores this year. At the same time, over EUR 1.3 million will be allocated to improve the convenience of customers by continuing the development of its network of self-service checkouts, and another EUR 200,000 to be invested in improving the client services system. Overall, Maxima Latvija is planning on reconstructing 15 stores in Riga and the regions, as well as open five various format stores throughout the country, including several Maxima Express concept stores.
About Bauhof Group AS
Bauhof (www.bauhof.ee), operated by MyInvest Estonia, is the leader in the Estonian building materials retail market. In 2017, the company reported sales revenue of 97 million EUR and net profit 3.1 million EUR. Bauhof has 13 stores with 450 employees.
About Ermitažas UAB
Ermitažas (www.ermitazas.lt) is one of the largest retail chains of building materials, garden materials and household goods in Lithuania. In 2017, sales revenue were 85.7 million EUR and net profit – 2.2 million Euro. Ermitažas has 9 stores and 690 employees.
About Vilniaus Prekyba UAB
Vilniaus Prekyba is one of the largest trading companies in the Baltic States and Central and Eastern Europe region. Subsidiaries Maxima Group, Euroapotheca, Ermitažas and Akropolis Group manage supermarkets, pharmacy chains, real estate development and operator companies in the Baltic States, Poland, Bulgaria, Ukraine and Sweden.
For more information:
Laima Skirienė
Sales and marketing director, Ermitažas
Ph.: +370 687 56606
laima.skiriene@ermitazas.lt