Speaking about differences in the group’s approach towards investments in Spain and Poland, the experts say that these might be the result of geographic differences and the fact that the potential acquisition in Spain will be an investment by VP Grupe’s shareholders, and not the grocery chain.
“I do not see any logic in the company acquiring something in Spain. That group is very remote geographically, which means that there will be no integration. Perhaps it is considered as an investment by the company, making it possible to use the experience gained by Maxima group in this business and try to apply it in Spain,” Mykantas Urba, corporate finance expert at the brokerage company Orion Securities, told the daily.
Karolis Rukas, a partner with Sweden’s Keystone Advisers, noted that this acquisition was a possibility for VP Grupe shareholders to move beyond the Lithuanian or the Baltic market.
“Expansion in Poland is understandable and the synergy is clear. Poland is nearby, same as Latvia or Estonia. As for Spain, I would imagine that it is a separate acquisition. Of course, they have much experience in retail trade and the shareholders will probably use that experience but it is more likely that it will be a separate acquisition, not expansion,” Rukas said.
Aurimas Zimnickas, a representative of VP Grupe, confirmed to BNS on Monday that one of investment subsidiaries of the group was interested in Spain’s chain DinoSol. The Lithuanian group might invest through Luxembourg-based Agile Finance or Ireland’s Agile Investment.
Maxima Grupe, which is controlled by the shareholders of VP Grupe, is expected to complete the acquisition of Poland’s grocery chain AldikNova in February or March.
