Coop Estonia has entered into an agreement with Finnish retail group SOK to acquire Prisma Peremarket and its 13 stores in Estonia. The transaction also establishes a broader strategic cooperation between the two retail groups, aimed at expanding product offerings and strengthening their positions in the market.
The acquisition combines the strength of both retailers, Prisma´s distinctive and diverse assortment and Coop´s extensive store network together with its strong focus on local products. Following completion, Coop will be able to strengthen its presence in Tallinn and offer customers a wider selection of both Estonian and Scandinavian products.
Completion of the transaction is subject to approval by the Estonian Competition Authority. The transaction represents one of the largest domestic retail consolidations in Estonia to date.
Coop Estonia is the largest retail organisation in Estonia, consisting of 18 regional consumer cooperatives and a central union coordinating their activities. Prisma Peremarket has operated in Estonia since 2000 and currently runs 13 stores in Tallinn and Harju County, Tartu, Narva and Rapla. Prisma Peremarket´s parent company, SOK, is part of Finland´s largest retail group, S Group.
COBALT advised Coop Estonia throughout the transaction. The team included Partners Jesse Kivisaari and Elo Tamm, Senior Associate Liina Saaremets and Associates Kristo Pullerits and Chris Oliver Rahumägi.
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