ICA Baltic, Kesko sign final agreement

Jan 06, 2005
By TBT staff

RIGA - The long-awaited and much-delayed merger of ICA Baltic and Kesko Food's retail operations in the Baltics took place on Jan. 3 when the two sides penned a final agreement, setting the stage for a battle of the retail giants in 2005. Sweden's ICA Baltic, the parent company of Rimi Latvia, and Finland's Kesko Food set up a joint venture, Rimi Baltic AB, that will unite the two companies' operations and help it compete with the ambitious VP Market, the Lithuanian-owned retailer and the larges ...

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