Maxima Grupė Completes Merger Of Stokrotka and Sano Retail Chains
Lithuanian retailer Maxima Grupė has announced that it has completed the merger of the Stokrotka and Sano retail chains in Poland.
In December of last year, Maxima Grupė's Stokrotka banner acquired 100% shares of Sano from Miglione Investments Limited, based in Cyprus.
As a part of the merger, which was completed on 1 February, Sano stores will be rebranded to Stokrotka by the first half of this year.
'A Well-Known Name'
Chief executive of Maxima Grupė, Dalius Misiūnas, said, “We chose the Stokrotka brand for this chain because it’s a well-known name that customers like which has solid positions in the near-home store segment.
"Now we’ll start a new phase of operations in Poland where we will focus most on improving how we work and opening new stores.”
Currently, 36 stores operate under the Sano banner in the north-western part of Poland.
In 2017, the retail banner generated a turnover of €71 million.
In 2019, Maxima Grupė plans to open around 120 to 140 new stores in five markets, including Poland.
The company plans to invest at least €100 million this year in the expansion and renovation of its chains of stores across all markets.
© 2019 European Supermarket Magazine – your source for the latest retail news. Article by Dayeeta Das. Click subscribe to sign up to ESM: European Supermarket Magazine.