Coopernic acquired 80% stake in UAB Palink, the operator of IKI food retail stores in the Baltic countries, from the Ortiz family and City Venture Capital International. The remaining 20% stake will be retained by the Ortiz family.
UAB Palink (www.iki.lt)
Founded in 1992, UAB Palink operates 209 modern supermarkets in Lithuania and Latvia and is the number two in Lithuania with a market share of 18%.
In 2006, UAB Palink had sales of € 635 million. In total, the Group employs a staff of 7,700 people.
Coopernic (www.coopernic.eu)
Founded in 2006, Coopernic is a grocery buying alliance of independent European retailers’ gathering Colruyt, Conad, Coop Switzerland, E. Leclerc and Rewe. Aggregated turnover is around € 94 billion, making Coopernic the second largest European grocery buying group.
Citi Venture Capital International (www.citigroupai.com)
Citi Venture Capital is part of Citi Alternative Investments.
03/03/2008
Central & Eastern Europe, Exit, Lithuania, Private Equity News, Retail Industry