Lithuania’s retail giant Maxima Grupe has started merging its Polish retail chains Stokrotka and Aldik.
The merger is set to be completed by the fall, and the retail chain will operate under the unified brand of Stokrotka. After the integration and opening of new stores, Stokrotka will own 563 stores by the end of this year, Maxima Grupe said.
“Merging these two retail chains is part of our strategy in Poland. It will allow us strengthen Maxima Grupe’s position and implement further expansion plans in this market. The merger will bring together experience and knowledge of both companies, allow seek synergies and exploit economies of scale,” Maxima Grupe board chairman and CEP Dalius Misiunas said in a statement.
In late 2017, Stokrotka had 437 stores, and more than 8,000 employees and its turnover amounted to 597 mln eors. In 2017, Aldik’s turnover grew 9 percent to 52 mln euros. It had 30 stores and more than 700 employees.
