History and Ownership
Rimi Baltic was created in 2004 when Finnish Kesko and Swedish ICA agreed to merge their operations in the Baltic states in a 50/50 joint venture. Rimi Baltic officially began operations on 1 January 2005.
Kesko previously had 6 Citymarket hypermarkets and 45 Säästumarket discount foodstores in Estonia and 5 Citymarkets in Latvia and 17 Supernetto discount outlets in Latvia. ICA previously owned 33 Rimi stores (supermarkets and compact hypermarkets) across Estonia, Latvia and Lithuania. Following the merger all of the Citymarket stores were progressively converted to Rimi hypermarkets during 2005.
Towards the end of 2006 Kesko decided to pull out of the joint venture and sold all of its shares in Rimi Baltic to ICA. Rimi Baltic became a wholly owned subsidiary of ICA AB from 1 January 2007. Property deals relating to Kesko's ownership of the former Citymarket sites were completed a few days later.
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