Maxima is the largest supermarket retail group in the Baltic States. Operated by the Maxima Group, the company says that it will have invested more than EUR 100 million in store formatting and reconstruction by year’s end, which will provide the company with 234 new-format shops. This was reported on Friday by the vz.lt business news website.

The chain also plans to continue investments in the refurbishment of grocery warehouses over the next several years.

Maxima LT operates 242 venues at this time.

As reported previously, the Maxima Group borrowed EUR 100 million from SEB, Skandinaviska Enskilda Banken and Swedbank for a term of five years. The money is to be used for chain expansion, store reconstruction and improvement of operational efficiency.

The Maxima Group earned more than EUR 6 billion in revenues last year, which was a gain of 4.3% over the past year, though net profits fell by 26.5% to EUR 135.7 million.

The Maxima Group operates supermarket chains in the Baltic States, Poland and Bulgaria. It also operates an E-store in the Baltic countries.

Source: BNS

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