Rimi Baltic
Encyclopedia
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 246 retail stores in Estonia
(77 stores), Latvia
(104 stores) and Lithuania
(65 stores) and has distribution centres in each country. The stores have different profiles, depending on range of products and size:
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.
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.
Kesko previously had 6 Citymarket hypermarkets and 45 Säästumarket discount foodstores in Estonia and 5 Citymarkets in Latvia and 17 Supernetto discount outlets in Latvia. ICA previously owned 33 Rimi stores (supermarkets and compact hypermarkets) across Estonia, Latvia and Lithuania. Following the merger all of the 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.
Retail
Retail consists of the sale of physical goods or merchandise from a fixed location, such as a department store, boutique or kiosk, or by mail, in small or individual lots for direct consumption by the purchaser. Retailing may include subordinated services, such as delivery. Purchasers may be...
operator in the Baltic states
Baltic states
The term Baltic states refers to the Baltic territories which gained independence from the Russian Empire in the wake of World War I: primarily the contiguous trio of Estonia, Latvia, Lithuania ; Finland also fell within the scope of the term after initially gaining independence in the 1920s.The...
based in Riga
Riga
Riga is the capital and largest city of Latvia. With 702,891 inhabitants Riga is the largest city of the Baltic states, one of the largest cities in Northern Europe and home to more than one third of Latvia's population. The city is an important seaport and a major industrial, commercial,...
, Latvia
Latvia
Latvia , officially the Republic of Latvia , is a country in the Baltic region of Northern Europe. It is bordered to the north by Estonia , to the south by Lithuania , to the east by the Russian Federation , to the southeast by Belarus and shares maritime borders to the west with Sweden...
. It is a subsidiary of Swedish group ICA. Rimi Baltic operates 246 retail stores in Estonia
Estonia
Estonia , officially the Republic of Estonia , is a state in the Baltic region of Northern Europe. It is bordered to the north by the Gulf of Finland, to the west by the Baltic Sea, to the south by Latvia , and to the east by Lake Peipsi and the Russian Federation . Across the Baltic Sea lies...
(77 stores), Latvia
Latvia
Latvia , officially the Republic of Latvia , is a country in the Baltic region of Northern Europe. It is bordered to the north by Estonia , to the south by Lithuania , to the east by the Russian Federation , to the southeast by Belarus and shares maritime borders to the west with Sweden...
(104 stores) and Lithuania
Lithuania
Lithuania , officially the Republic of Lithuania is a country in Northern Europe, the biggest of the three Baltic states. It is situated along the southeastern shore of the Baltic Sea, whereby to the west lie Sweden and Denmark...
(65 stores) and has distribution centres in each country. The stores have different profiles, depending on range of products and size:
- Rimi Hypermarket - hypermarketHypermarketIn commerce, a hypermarket is a superstore combining a supermarket and a department store. The result is an expansive retail facility carrying a wide range of products under one roof, including full groceries lines and general merchandise...
s - Rimi - supermarketSupermarketA supermarket, a form of grocery store, is a self-service store offering a wide variety of food and household merchandise, organized into departments...
s - Säästumarket (in Estonia), Supernetto (in Latvia and Lithuania) - no frills supermarkets
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.
History and ownership
Rimi Baltic was created in 2004 when Finnish KeskoKesko
Kesko is a Finnish retailing conglomerate. It is engaged in the food trade, the home and specialty goods trade, the building and home improvement trade, and the car and machinery trade...
and Swedish ICA agreed to merge their operations in the Baltic states
Baltic states
The term Baltic states refers to the Baltic territories which gained independence from the Russian Empire in the wake of World War I: primarily the contiguous trio of Estonia, Latvia, Lithuania ; Finland also fell within the scope of the term after initially gaining independence in the 1920s.The...
in a 50/50 joint venture. Rimi Baltic officially began operations on 1 January 2005.
Kesko previously had 6 Citymarket hypermarkets and 45 Säästumarket discount foodstores in Estonia and 5 Citymarkets in Latvia and 17 Supernetto discount outlets in Latvia. ICA previously owned 33 Rimi stores (supermarkets and compact hypermarkets) across Estonia, Latvia and Lithuania. Following the merger all of the 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.