Finance
Swedish food retailer ICA Gruppen sells Baltic business in $1.4 billion deal
Published by Global Banking and Finance Review
Posted on March 6, 2025
1 min readLast updated: January 25, 2026
Global Banking and Finance Review
Company
Published by Global Banking and Finance Review
Posted on March 6, 2025
1 min readLast updated: January 25, 2026
ICA Gruppen sells its Baltic subsidiary to Salling Group for $1.4 billion, focusing on strengthening its Swedish market.
COPENHAGEN (Reuters) - Swedish grocery retailer ICA Gruppen said on Wednesday it would sell its Baltic subsidiary to Denmark's biggest supermarket operator Salling Group in a deal worth 1.3 billion euros ($1.38 billion), excluding debt.
The sale of the Rimi Baltic grocery retail business, which operates in Estonia, Latvia and Lithuania, would result in a capital gain of 7 billion Swedish crowns ($675.04 million), ICA Gruppen said in a statement.
"The transaction will release funds, that will enable continued investments in and allocations of resources to the Swedish business to strengthen and broaden the customer offerings in our core Swedish market," it added.
Salling Group said in a separate statement that the transaction was its biggest ever deal.
Rimi Baltic employs around 11,000 people and has 314 stores across the three Baltic countries.
($1 = 0.9391 euros)
($1 = 10.4047 Swedish crowns)
(Reporting by Isabelle Yr Carlsson. Editing by Jane Merriman)
The deal is valued at $1.4 billion, involving the sale of ICA Gruppen's Baltic subsidiary.
ICA Gruppen plans to use the funds to continue investments and enhance customer offerings in its core Swedish business.
Rimi Baltic operates 314 stores across Estonia, Latvia, and Lithuania.
This transaction marks Salling Group's largest deal to date, highlighting its expansion in the Baltic grocery market.
Rimi Baltic employs approximately 11,000 people across its operations in the Baltic countries.
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