Maxima Grupe announces success of Stokrotka takeover bid

The Lithuanian retailer Maxima Grupe on 12 April announced that it has achieved success in its public takeover offer for Emperia Holding, the operator of Stokrotka supermarkets in Poland, after 93.7% of shares were tendered by Emperia’s existing shareholders, well over the 66% required for the bid to proceed. The value of the deal is approximately €276m.

The acquisition of Emperia is a very important strategic step that will allow Maxima Grupe to significantly strengthen its position on the Polish market. The next step is to smoothly complete the transaction and to implement a strategic vision for the company, said Dalius Misiunas, Chairman and CEO of Maxima Grupe. The transaction will be completed on 18 April. With 436 stores, Stokrotka has about 20% of the market for near-home stores in Poland, Maxima noted in its statement.

The acquisition by Maxima Grupe opens a new chapter in the history of Emperia Holding – one marked by even more intensive growth in all parts of the business. In particular, it will enable the retail arm Stokrotka, which currently includes 440 stores, to step up organic growth – drawing on its well-tested store formats – and to take an active part in the consolidation of the Polish retail market, Emperia Holding said. The transaction will bring tangible benefits for the customers, employees, business partners and all other stakeholders of Emperia, CEO Dariusz Kalinowski concluded.

Stokrotka opened 77 new stores in 2017 and its plan for 2018, announced earlier this year, is to open more than 100. The chain had a very strong first quarter, with product sales up 15.6%, year on year.

Maxima Grupe already owns Aldik and Sano supermarkets in Poland. It operates more than 550 stores in total, in five countries: Lithuania, Latvia, Estonia (Maxima banner), Bulgaria (T-Market), and Poland (Aldik, Sano).