The third largest store chain in Latvia “top!” expands

The third largest store chain in Latvia “top!” expands

The local store chain “top!” adds 31 stores to its chain and strengthens its position as the third largest retail sales network in Latvia. On 22 December 2016, the Competition Council acknowledged the merger, as a result of which SIA “Firma Madara 89 īpašumi” acquired part of the assets of SIA “Antaris” and AS “NIDL” that includes 31 stores operating with the brand “ELVI”.

“This merger is a very significant step towards the development of the company and expansion of the store chain “top!” in Latvia, especially in Latgale and Sēlija. After overtaking the 31 stores we will initially invest in implementation of “top!” standards, in 2017, we will gradually improve the technical facilities of the stores and start partial replacement of the equipment. We will do everything we can to make our customers and employees satisfied at the new “top!” stores”, commented the Retail Sales Directors of SIA “Firma Madara 89” Sandis Muižarājs.

In the next month the store chain “top!” will be expanded in Daugavpils, Dagda, Kaunata, Krauja, Špoģi, Viesīte, Kalupa, Aknīste, Rugāji, Aglona, Jaunjelgava, Nereta, Žīguri, Varakļāni, Riebiņi, Pļaviņas, Jaunkalsnava, Aiviekste, Sala, Subate, Ilūkste, Mālpils and Bebrene.

“We are happy for the local businesspeople who are actively developing and strengthening their business in Latvia. The newly opened stores will provide their customers a balanced assortment of products for competitive prices. It should be also emphasised that the former employees have been offered to continue employment and we will train them in line with the standards of “top!”,” said the Head of Marketing of the store chain “top!” Ilze Priedīte.

SIA “Firma Madara 89” celebrated its 23rd anniversary in 2016. The company employs 1,080 employees and consists of 100% local share capital. During its operations, the company has opened 69 stores: 24 “mini top!” and 35 “top!” stores and 10 “LABAIS” stores, as well as 26 bakeries that offer their customers fresh and tasty buns, rolls, cakes and gastronomy products.

We have considered suggestions of our customers and in line with sound business development principles, we have renovated and expanded the existing stores, as well as opened new ones to be close to our customers and serve them in daily life and celebrations. In 2016, the store chain “top!” got a new partner SIA “Palmas-S” that opened “top!” store in Kauguri and “mini top!” in Ķemeri. The partners have opened 9 “top!” stores in Valmiera, Rīga, Līvāni, Vandzene, Saulkrasti, Līvbērze and Mežciems, “mini top!” stores were opened in Riga, Kuldīga and Sabile.

The store chain “top!” is the largest store chain owned by the Latvian businesspeople, as well as the third largest retail sales store chain in Latvia. There are 230 stores operating in Latvia with the brand “top!”, out of which 128 are “top!” and 102 “mini top!” stores owned by 19 local companies: SIA “Firma Madara 89”, AS “LPB”, AS “Diāna”, SIA “Lars Limited”, SIA “Gabriēla”, SIA “Dekšņi”, SIA “Mārksmens”, SIA “Madara 93”, SIA “AA & Co”, SIA “Krista - A”, AS “Roga - Agro”, SIA “ESSA”, SIA “G.A.L.”, SIA “Lekon”, SIA “Ogres Prestižs”, SIA “Pārtikas veikalu grupa”, SIA “Oregano”, SIA “SP” and SIA “Palmas-S”. The store chain employs more than 3,000 employees and supports local producers and suppliers in Latvia.

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