Inter IKEA Group completes acquisition of IKEA retail business in the Baltics

Inter IKEA Group¹ announces the completion of the acquisition of the IKEA retail operations in Estonia, Latvia and Lithuania. The purchase includes three full size IKEA stores, five additional smaller customer meeting points, e-commerce and the Digital Retail Development company.

In August 2024, Inter IKEA Group signed a Share Purchase Agreement with Hof ehf, the owner of the IKEA Baltics retail operations. Following the required clearances from regulatory authorities, the transaction is now completed.

By leveraging the IKEA Baltics’ expertise in the local markets, Inter IKEA Group aims to further strengthen its capabilities in offering affordable, accessible and sustainable home furnishing solutions. With an omnichannel approach, Inter IKEA Group will gain new insights and share knowledge with the objective to become an even better franchisor, for the benefit of all franchisees.

‘’This marks the beginning of a new chapter in our vision to create a better everyday life for the many. The acquisition of the IKEA retail business in the Baltics allows us to gather and share learnings directly across the value chain. This helps us to further evolve the IKEA Concept and strengthen our franchise system, thereby delivering even greater value to our customers across the globe,” says Jon Abrahamsson Ring, CEO of Inter IKEA Group.

IKEA Retail Baltics will continue to operate through the franchise system, with Inter IKEA Systems B.V. that is part of Inter IKEA Group, being the franchisor. Today, the IKEA retail operations in the Baltics employ 1,450 co-workers and there were 6.7 million visitors in the IKEA customer meeting points in the financial year 2024. Inter IKEA Group already owns purchasing, logistics and production operations in the Baltics, employing around 700 IKEA co-workers.

‘’It is a significant development for the IKEA Baltics retail organization. We join Inter IKEA Group with a strong business performance and profitability in the Baltic region. Within 12 years IKEA retail has penetrated the markets and now operates 8 customer meeting points with the 9th – small IKEA store - in the pipeline. The acquisition will open even more new opportunities to strengthen the brand and concept as well as further foster shared growth and customer value in the Baltic region,’’ says Inga Filipova, IKEA Retail Manager Baltics.

In addition, the Inter IKEA Group owns and operates the IKEA store in Delft, the Netherlands. All other IKEA retail operations are owned and operated by 12 IKEA franchisee groups. The sellers will continue to own and operate IKEA Iceland.

“A big thanks to all IKEA colleagues in the Baltics for the great work that has been done in the region so far. You have made IKEA a beloved part of the Baltic homes. It’s a strong foundation to build on, glorious future!”, says Jon Abrahamsson Ring, CEO of Inter IKEA Group.

1 Acquisition will be made by Inter IKEA Retail Holding B.V., a subsidiary of Inter IKEA Systems B.V

About IKEA

IKEA offers well-designed, functional and affordable, high-quality home furnishing, produced with care for people and the environment. There are several companies with different owners, working under the IKEA Brand, all sharing the same vision: to create a better everyday life for the many people. IKEA was founded in Sweden in 1943.

About Inter IKEA Group
Inter IKEA Group includes Inter IKEA Systems B.V., the world-wide IKEA franchisor and owner of the IKEA Brand; IKEA of Sweden AB; IKEA Supply AG and related businesses. Inter IKEA Holding B.V. is the holding company for Inter IKEA Group.

About the IKEA franchise system
The IKEA retail business is operated through a franchise system with franchisees that are authorised to market and sell the IKEA product range within specified geographical territories. Inter IKEA Systems B.V. is the owner of the IKEA Concept and worldwide IKEA franchisor, who also assigns different IKEA companies to develop the range, supply products and deliver communication solutions. Today, 12 different groups of companies own and operate IKEA sales channels under franchise agreements with Inter IKEA Systems B.V.

About Hof ehf
Hof started the IKEA operations in Iceland in 1982 and expanded into the Baltics in 2013 through the opening of IKEA Vilnius in 2013.