Palink
 Iki logo | |
| IKI | |
| Industry | Retail |
| Founded | 1992 |
| Founder | George Ortiz, Nicolas Ortiz, Oliver Ortiz |
| Headquarters | , |
Area served | Lithuania |
Key people | CEO Nijolė Kvietkauskaitė |
| Revenue | €719 million[1] |
| €10.5 million | |
| Total assets | €83.7 million |
| Total equity | €119.3 million |
Number of employees | 6096 (2022) |
| Website | iki |
Palink is the operator of the "IKI" supermarket chain in Lithuania.
History
Palink was founded by the brothers George, Oliver and Nicolas Ortiz.[2] The first store was opened in 1992 in Vilnius, Lithuania.
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.[3][4]
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.[5]
In 2016, the Iki Cento brand of stores was discontinued.
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.[6]
In July 2018, the German company REWE increased its stake in Palink to 93.75% of the capital. The second owner was E. Leclerc group Unilec.
References
- ^ "Palink, UAB".
- ^ Kaminski, Matthew (2004-04-28). "From Ground Zero to the EU". Wall Street Journal. ISSN 0099-9660. Retrieved 2019-10-24.
- ^ Šerėnaitė, Asta. ""Palink" parduoda prekybos tinklą Latvijoje". vz.lt (in Lithuanian). Retrieved 2019-10-24.
- ^ "'Mego' pērk IKI veikalu tīklu; gaida konkurences uzraugu atļauju". delfi.lv (in Latvian). 2014-01-17. Retrieved 2019-10-24.
{{cite web}}: CS1 maint: url-status (link) - ^ ""Iki" į tinklo plėtrą pernai investavo 80 mln. Lt". Archived from the original on 2014-01-17. Retrieved 2019-10-24.
- ^ ""Rimi" Lietuvā tomēr neizdodas pārpirkt "Iki" veikalus". Jauns.lv (in Latvian). Retrieved 2022-07-13.
External links
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- CS1 Lithuanian-language sources (lt)
- CS1 maint: url-status
- CS1 Latvian-language sources (lv)
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- Official website not in Wikidata
- Supermarkets of Lithuania
- Supermarkets of Latvia
- Companies based in Vilnius
- 1992 establishments in Lithuania
- Retail companies established in 1992
- Lithuanian brands
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- Lithuania stubs