IKI Lietuva

IKI Lietuva, formerly known as Palink, is the operator of the "IKI" supermarket chain and the "LastMile" delivery service in Lithuania.

IKI Lietuva, UAB
IKI
IndustryRetail
Founded1992 (1992)
FounderGeorge Ortiz, Nicolas Ortiz, Oliver Ortiz
Headquarters
Vilnius
,
Lithuania
Area served
Lithuania
Key people
CEO Nijolė Kvietkauskaitė
Revenue€819.4 million[1]
€10.5 million
Total assets€83.7 million
Total equity€119.3 million
Number of employees
6096 (2022)
ParentREWE Group
Websiteiki.lt

History

Palink was founded by Belgian brothers George, Oliver and Nicolas Ortiz.[2] The first store was opened in 1992 in Vilnius, Lithuania.[3]

In 2005, Palink opened its first store in Riga, Latvia.

In 2014, Palink sold all IKI stores in Latvia (51 stores) to local company Mego, stating that Palink is not interested in investing in Latvia anymore. IKI was 5th largest supermarket chain in Latvia.[4][5]

The company currently operates over 240 "Iki", "Iki Cento" and "Iki Express" stores in more than 70 cities and is the second-largest retail grocer in Lithuania.[6]

In 2016, the Iki Cento brand of stores was discontinued.[7]

In mid-March 2018, Rimi Lietuva submitted nominations of potential buyers to the Competition Council. The council did not support them, on the grounds that these buyers "would not provide stable and at least as effective competition" as the current company provides until the transaction is implemented. In April, the Competition Council announced that the sale of Iki to Rimi was terminated.[8]

In July 2018, the German company REWE increased its stake in Palink to 93.75% of the capital.[9][10][11] The second owner was E. Leclerc group Unilec.

In 2021, Palink made acquisition of the "LastMile" delivery service.[12]

Palink was renamed to IKI Lietuva on 2 September 2022.[12]

See also

References
  1. "Palink, UAB".
  2. Kaminski, Matthew (2004-04-28). "From Ground Zero to the EU". Wall Street Journal. ISSN 0099-9660. Retrieved 2019-10-24.
  3. "Istorija". IKI – Mes visi mylim maistą! (in Lithuanian). 2020-06-10. Archived from the original on 2023-02-02. Retrieved 2023-02-02.
  4. Šerėnaitė, Asta. ""Palink" parduoda prekybos tinklą Latvijoje". vz.lt (in Lithuanian). Retrieved 2019-10-24.
  5. "'Mego' pērk IKI veikalu tīklu; gaida konkurences uzraugu atļauju". delfi.lv (in Latvian). 2014-01-17. Retrieved 2019-10-24.
  6. ""Iki" į tinklo plėtrą pernai investavo 80 mln. Lt". Archived from the original on 2014-01-17. Retrieved 2019-10-24.
  7. "Istorija". IKI – Mes visi mylim maistą! (in Lithuanian). Retrieved 2023-02-06.
  8. ""Rimi" Lietuvā tomēr neizdodas pārpirkt "Iki" veikalus". Jauns.lv (in Latvian). Retrieved 2022-07-13.
  9. "Cleveron Mobility AS pilot project with one of the largest retailers in Lithuania has started". view.news.eu.nasdaq.com. 2022-12-03. Archived from the original on 2023-02-02. Retrieved 2023-02-02.
  10. The Baltic Course (2018-11-07). "Germany's Rewe takes control of Lithuanian supermarket chain Iki". The Baltic Course. Archived from the original on 2023-02-02. Retrieved 2023-02-02.
  11. "Germany's Rewe increased its stake in Lithuanian supermarket chain Iki - Strategeast". Strategeast. 2018-11-08. Archived from the original on 2023-02-02. Retrieved 2023-02-02.{{cite web}}: CS1 maint: unfit URL (link)
  12. https://www.delfi.lt/verslas/verslas/iki-valdanti-palink-keicia-pavadinima-91134975
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