The Ica Group is selling its wholly-owned daily goods business Rimi Baltic to Salling Group for 1.3 billion euros, equivalent to 14.4 billion Swedish kronor. Rimi Baltic's operations are located in Estonia, Latvia, and Lithuania.
In a press release, Ica writes that the sale enables continued investments in the Swedish operations and that the group has no ambitions to grow outside of Sweden.
"We are proud of Rimi Baltic's strong development and our shared history of over 28 years, and we are now divesting a strong and healthy company", says Nina Jönsson, CEO of the Ica Group in a press release.
