VP Market
Encyclopedia
VP Group is one of the largest Lithuania
n groups of private companies. It is a holding company through which shareholders manage numerous subsidiaries. It traces its roots to 1992. The flagship property of the company is a chain of retail supermarkets (Maxima Group), which is managed by UAB Vilniaus prekyba. Its principal shareholder is Nerijus Numavičius
.
. Relvit Ltd is a holding company registered in Malta
that manages the companies operating shopping malls Akropolis and projects under development in Eastern Europe
. Eva Group is an investment company. Its current holdings include Polish confectioner Mieszko and Lithuanian mineral water company Druskininkų rasa. NDX Energija was involved in the failed LEO LT
project. It continues to invest in various companies. In June 2011, it acquired controlling interest in Mispol, Polish canned meat and pâté
producer.
, brothers Žilvinas, Mindaugas and Gintaras Marcinkevičius, Ignas Staškevičius, Renatas Vaitkevičius, Mindaugas Bagdonavičius. The core group met as medical students at Vilnius University
. They started transacting in real estate. The retail business began when they could not resell a liquor store. Soon it became the main focus of the group. The extensive growth of the retail chain was funded by sale of various stocks that the group acquired during post-Soviet privatization
campaigns. One of the transaction involved stock sale of four sugar refineries to Danisco
. Other companies included Vilniaus paukštynas (poultry farm), Birštono mineraliniai vandenys (mineral water), Vilniaus mėsos kombinatas (meat packing), Vilniaus duona (bakery). In 2003, VP Group, through its subsidiary UAB NDX energija, bought 97.1% of shares in Vakarų skirstomieji tinklai (Western Power Grid Company), electricity distributor. After the successful transaction Darius Nedzinskas became the 10th shareholder of the VP Group in 2007. The group further pursued ambitious goals in the energy sector, becoming shareholder of LEO LT
, the national investor established to raise funds for the planned construction of the Visaginas Nuclear Power Plant
. After the failure of LEO LT in September 2009, the group had fallen out, undergoing significant changes in ownership and leadership. However, little detail is available, as the group is privately held by closely related people (several brothers and brothers-in-law), who avoid publicity. Chairman and president Nerijus Numavičius appears to be concentrating the power in his hands as in January 2011 he obtained permission from the anti-trust commission to increase his holdings in VP Group and related companies up to 73%.
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...
n groups of private companies. It is a holding company through which shareholders manage numerous subsidiaries. It traces its roots to 1992. The flagship property of the company is a chain of retail supermarkets (Maxima Group), which is managed by UAB Vilniaus prekyba. Its principal shareholder is Nerijus Numavičius
Nerijus Numavičius
Nerijus Numavičius is a Lithuanian businessman, chairman and president of VP Group. In late 2010, he increased his ownership in VP Group from 36.9% up to 73%. Due to his ownership of VP Group, he is considered to be one of the wealthiest Lithuanians...
.
Major subsidiaries
UAB Vilniaus prekyba is a holding company registered in Lithuania that manages retail and pharmacy chains. It owns the retail chain operator Maxima Group and pharmacy chain EuroapothecaEuroapotheca
UAB Euroapotheca is a retail pharmacy chain owned by Lithuanian VP Group...
. Relvit Ltd is a holding company registered in Malta
Malta
Malta , officially known as the Republic of Malta , is a Southern European country consisting of an archipelago situated in the centre of the Mediterranean, south of Sicily, east of Tunisia and north of Libya, with Gibraltar to the west and Alexandria to the east.Malta covers just over in...
that manages the companies operating shopping malls Akropolis and projects under development in Eastern Europe
Eastern Europe
Eastern Europe is the eastern part of Europe. The term has widely disparate geopolitical, geographical, cultural and socioeconomic readings, which makes it highly context-dependent and even volatile, and there are "almost as many definitions of Eastern Europe as there are scholars of the region"...
. Eva Group is an investment company. Its current holdings include Polish confectioner Mieszko and Lithuanian mineral water company Druskininkų rasa. NDX Energija was involved in the failed LEO LT
LEO LT
LEO LT AB or Lithuanian Electricity Organization was a national energy holding company in Lithuania. The company owned shares of Lithuania's three major electric power production and distribution companies...
project. It continues to invest in various companies. In June 2011, it acquired controlling interest in Mispol, Polish canned meat and pâté
Pâté
Pâté is a mixture of ground meat and fat minced into a spreadable paste. Common additions include vegetables, herbs, spices, and either wine or cognac, armagnac or brandy...
producer.
History
The company was founded by nine men, who earned the nickname of VP 9 (Lithuanian" VP devintukas): brothers Vladas, Julius and Nerijus NumavičiusNerijus Numavičius
Nerijus Numavičius is a Lithuanian businessman, chairman and president of VP Group. In late 2010, he increased his ownership in VP Group from 36.9% up to 73%. Due to his ownership of VP Group, he is considered to be one of the wealthiest Lithuanians...
, brothers Žilvinas, Mindaugas and Gintaras Marcinkevičius, Ignas Staškevičius, Renatas Vaitkevičius, Mindaugas Bagdonavičius. The core group met as medical students at Vilnius University
Vilnius University
Vilnius University is the oldest university in the Baltic states and one of the oldest in Eastern Europe. It is also the largest university in Lithuania....
. They started transacting in real estate. The retail business began when they could not resell a liquor store. Soon it became the main focus of the group. The extensive growth of the retail chain was funded by sale of various stocks that the group acquired during post-Soviet privatization
Privatization
Privatization is the incidence or process of transferring ownership of a business, enterprise, agency or public service from the public sector to the private sector or to private non-profit organizations...
campaigns. One of the transaction involved stock sale of four sugar refineries to Danisco
Danisco
Danisco A/S is a Danish bio-based company with activities in food production, enzymes and other bioproducts as well as a wide variety of pharmaceutical grade excipients. It was formed in 1989 from the largest Danish industrial merger ever of the two old C.F...
. Other companies included Vilniaus paukštynas (poultry farm), Birštono mineraliniai vandenys (mineral water), Vilniaus mėsos kombinatas (meat packing), Vilniaus duona (bakery). In 2003, VP Group, through its subsidiary UAB NDX energija, bought 97.1% of shares in Vakarų skirstomieji tinklai (Western Power Grid Company), electricity distributor. After the successful transaction Darius Nedzinskas became the 10th shareholder of the VP Group in 2007. The group further pursued ambitious goals in the energy sector, becoming shareholder of LEO LT
LEO LT
LEO LT AB or Lithuanian Electricity Organization was a national energy holding company in Lithuania. The company owned shares of Lithuania's three major electric power production and distribution companies...
, the national investor established to raise funds for the planned construction of the Visaginas Nuclear Power Plant
Visaginas nuclear power plant
Visaginas nuclear power plant is a planned nuclear power plant project in Lithuania. It is proposed to be built at the site of the closed Ignalina Nuclear Power Plant which was shut-down on 31 December 2009 in accordance with Lithuania's accession agreement to the European Union...
. After the failure of LEO LT in September 2009, the group had fallen out, undergoing significant changes in ownership and leadership. However, little detail is available, as the group is privately held by closely related people (several brothers and brothers-in-law), who avoid publicity. Chairman and president Nerijus Numavičius appears to be concentrating the power in his hands as in January 2011 he obtained permission from the anti-trust commission to increase his holdings in VP Group and related companies up to 73%.