Finnish retail giant SOK of the S-Group decided to sell all of the outlets of its grocery chain Prisma in Estonia, said the company in a press release on Tuesday.
SOK and Coop Estonia agreed on a business transaction in which AS Prisma Peremarket and 13 Prisma stores in Estonia will be sold to Coop Estonia.
After the transaction is confirmed, SOK and Coop Estonia also plan extensive cooperation, with the target to deliver Finnish food and other products from SOK retail stores selection in Finland to 300 Coop stores in Estonia.
The completion of the transaction is subject to approval by the Estonian competition authority, which is expected to take place during 2026.
After the transaction is confirmed, all 13 Prisma stores in Estonia will become Coop stores, and 700 Prisma employees will transfer to Coop.
The transaction, however, will not affect Sokos Hotel Viru, which continues to operate normally.
Coop Estonia is the largest domestic retail chain in Estonia and its store network includes more than 300 stores across Estonia, the press release added.
"Coop Estonia is the best possible partner for S Group in Estonia. We share a cooperative background and responsible values. Coop Estonia has a strong and positive reputation in Estonia and is a respected employer," said Hannu Krook, President and CEO of SOK.
According to Krook, the decision was made for strategic reasons.
“We had two options: either invest more in the store network ourselves, or grow through partnership. We decided to invest in a partnership,” Krook added.
“Coop’s market share in Tallinn has been low compared to competitors, as we have historically focused on having a presence in other parts of Estonia. We have been looking for a suitable opportunity to increase our market share in Tallinn for quite some time. Acquiring Prisma Peremarket gives us the opportunity to significantly increase our market share and make Coop more accessible than before to residents of the capital,” said Rainer Rohtla, Chairman of the Management Board of Coop Estonia Keskühistu.
- S-Group
- To sell
- Prisma
- Estonia
Source: www.dailyfinland.fi
