You have 10 free articles left this month. Get your freeBasic subscription now and gain instant access to more.

Maxima Bulgaria seeks regulatory nod to lease stores in Plovdiv

Maxima Bulgaria seeks regulatory nod to lease stores in Plovdiv Author: Maxima Bulgaria / All rights reserved.

SOFIA (Bulgaria), August 6 (SeeNews) - Maxima Bulgaria, a unit of Lithuanian discount retailer Maxima Grupe, said on Tuesday that it is seeking clearance from Bulgaria's anti-trust body to sign long-term contracts for the lease of stores of supermarket chain Triumf in the city of Plovdiv.

A strategic step is being made towards strengthening Maxima Bulgaria's presence in the country's second largest city, where the company already operates three stores of its supermarket chain T-Market, Petar Pavlov, CEO of Maxima Bulgaria, said in a statement. 

"After the Commission for Protection of Competition issues a decision, we will initiate the process of gradual integration of the [Triumf] stores," Pavlov added. 

The Triumf supermarket chain started operating in 2000 in Plovdiv and currently has 11 stores across the city. 

Maxima Bulgaria is operating 73 T-Market stores located in 38 Bulgarian cities. The company opened nine new stores in 2018 and closed the year with a turnover of 259.7 million levs ($148.7 million/132.8 million euro)  and EBITDA of 1.56 million levs. 

(1 euro = 1.95583 levs)