Lithuanian retail chain Maxima Grupė has announced that it has acquired Barbora, the country's largest e-commerce company for food and groceries.
The group emphasised that Barbora's independence will not be affected by the €1.4 million transaction, and that the company will keep its current management team, working in collaboration with the Maxima-affiliated e-commerce companies in Latvia and Estonia.
Alvydas Šustikas, CEO and chairman of the Grupė, explained that Barbora and Maxima LT had already formed a strong partnership, making the acquisition a logical solution to achieve a more efficient collaboration:
"Barbora is a leader in its field. It has developed a convincing business model and a loyal customer base, with high consumer trust. Generally, we believe that e-commerce business is up-and-coming. We see this clearly in Latvia and Estonia, where the e-commerce channels are consistently growing."
Maxima Grupė operates in Lithuania, Latvia, Estonia, Bulgaria and Poland.
© 2017 European Supermarket Magazine – your source for the latest retail news. Article by Martha Sparrius. To subscribe to ESM: The European Supermarket Magazine, click here.
