Maxima Grupe

What Maxima Grupe does

Maxima Grupe (legal entity: MAXIMA GRUPĖ, UAB) is the largest food and daily consumer goods retailer in the Baltic States, operating under the MAXIMA brand and the Barbora e-commerce platform. Founded in 1992 from a single Vilnius store and now headquartered at Ozo g. 25, Vilnius, the group operates 498 physical stores across Lithuania, Latvia, and Estonia, serving approximately 900,000 customers per day with a total workforce of 21,595. The group is wholly owned by the Lithuanian holding company UAB "Vilniaus prekyba," which is undergoing a restructuring (expected to complete by H1 2027) that will separate Baltic operations from the broader group's non-Baltic assets.

The business operates through a multi-format model spanning hypermarkets, supermarkets, and the Barbora online grocery platform, supported by Franmax (franchise and shared services) and Maxima International Sourcing (procurement). Revenue is generated primarily through in-store grocery and consumer goods sales (one-time transactions), supplemented by e-commerce sales through Barbora (€153 million in 2025, +3.1% YoY) and private-label products, which have grown approximately 13% annually over the past three years. In FY2025, the group reported consolidated revenues of €6.35 billion (+4.1% YoY) and EBITDA of €510 million across five countries; following the December 2025 divestiture of Poland (Stokrotka, 981 stores) and Bulgaria (T Market, 133 stores) to PARETAS B.V., the forward-looking revenue base is concentrated in the three Baltic markets, where 2025 revenues reached €4.07 billion (64% of the consolidated total).

The capital structure is anchored by a May 2026 €350 million 5-year bond issuance under an EMTN program (4.75% coupon, listed on Nasdaq Vilnius and Euronext Dublin), which refinanced prior debt including a €240 million bond redeemed in October 2025. S&P Global Ratings assigns a BB+ credit rating with a stable outlook, and the company carried a 1.49x net debt-to-EBITDA ratio at the close of 2025. No proprietary technology stack, AI/ML systems, or platform architecture is disclosed in the available source material beyond standard retail and e-commerce operations.

Name

Maxima Grupe

Legal name

MAXIMA GRUPĖ, UAB

Website

https://maximagrupe.eu

Company type

Private

Founded year

1992

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Maxima Grupe is the largest food and consumer goods retailer in the Baltic States, operating 498 MAXIMA supermarkets and the Barbora e-commerce platform across Lithuania, Latvia, and Estonia, serving roughly 900,000 customers daily under parent UAB "Vilniaus prekyba."

Ownership category

akta.pro rank

Product category

Grocery Retail

NAICS

Grocery and Convenience Retailers (4451), Food and Beverage Retailers (445)

SIC

Retail-Grocery Stores (5411), Retail-Food Stores (5400)

akta.pro primary industry

Full-Line Supermarkets (National/Regional Chains) (CRAHAAAA)

Keywords

• Grocery retail
• Supermarket chain
• Food retail
• E-commerce grocery
• Private label products

Headquarters

HQ city

Vilnius

HQ country

Lithuania

HQ region

Europe

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Supply Chain, Operations, Infrastructure, Marketing or Sales

Revenue model

1. Physical Retail Store Sales: Revenue from operating 498 physical retail stores across the Baltic countries (Lithuania, Latvia, Estonia), selling food and daily consumer goods. This is the primary revenue stream.
2. E-commerce (Barbora): Online grocery retail sales through the Barbora e-commerce platform operating in Baltic countries.
3. Private Label Products: Sale of private label products under own brands, which showed approximately 13% annual growth over three years in Baltic countries.

Go-to-market motion1 record

Distribution channels3 records

Marketing channels3 records

Core offering

MAXIMA GRUPĖ operates the largest retail chain in the Baltic States, running 498 physical stores under the MAXIMA brand across Lithuania, Latvia, and Estonia that sell food and everyday consumer goods. The retail network is complemented by the Barbora e-commerce grocery delivery platform, while the group is supported by Franmax (franchise management) and Maxima International Sourcing (procurement). The group generated EUR 4.07 billion in Baltic revenues and EUR 6.35 billion in consolidated revenues in 2025.

Product overview

Maxima Grupe operates as a retail group with a multi-brand portfolio centered on physical and e-commerce retail. The core offering is the MAXIMA supermarket chain, the largest retail network in the Baltic States with 498 stores across Lithuania, Latvia, and Estonia, generating annual revenues exceeding 4 billion EUR. Complementing the physical retail operations is Barbora, the e-commerce grocery platform with 153 million EUR in sales. The group is supported by Franmax for franchise management services and Maxima International Sourcing for procurement activities. The company generates approximately 4.07 billion EUR in annual revenues across 3 countries, employs 21,595 people, and serves 900,000 customers daily.

Differentiator

Problem solved

Functional benefit

Brands

• Barbora: E-commerce online food store operating in Lithuania, Latvia, and Estonia under the MAXIMA GRUPĖ umbrella.
• Maxima

Products and services

• MAXIMA retail stores Physical supermarket chain under the MAXIMA brand operating 498 stores across Lithuania, Latvia, and Estonia, selling food and everyday consumer goods to individual consumers and serving 900,000 customers daily.
• Barbora e-commerce grocery platform Online grocery delivery platform operating in Lithuania, Latvia, and Estonia, with EUR 153 million in sales in 2025.

Named customers2 records

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Six partnerships are on record, tiered minor and core.

• Clifford Chance LLPminorOthers · 8 May 2026Legal counsel for the company during the 350 million EUR bond issuance under EMTN program.
• COBALTminorOthers · 8 May 2026Legal counsel for the company during the 350 million EUR bond issuance under EMTN program.
• Mayer Brown International LLPminorOthers · 8 May 2026Legal advisors for the banking partners (Goldman Sachs, ING, SEB) during the bond issuance.
• Ellex ValiunasminorOthers · 8 May 2026Legal advisors for the banking partners during the bond issuance.
• PARETAS B.V.coreOthers · 22 December 2025Related company within Vilniaus prekyba group to which MAXIMA GRUPĖ sold its Poland (Stokrotka) and Bulgaria (T Market) operations as part of group restructuring. Transaction valued at 424 million EUR.
• S&P Global RatingscoreOthers · 22 December 2025International credit rating agency that assigned BB+ rating to MAXIMA GRUPĖ's bonds and confirmed the company's BB+ credit rating with stable outlook after the sale of Poland and Bulgaria operations.

Scale indicators10 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Rimi Baltic (ICA Gruppen): Rimi Baltic is one of the largest grocery chains across Lithuania, Latvia and Estonia, operating supermarkets and hypermarkets under the ICA Gruppen/Coop ownership. Directly comparable as a multi-format grocery retailer serving the same three Baltic countries with overlapping store networks and customer base.
• Lidl Lietuva / Lidl Baltic: Lidl operates a rapidly expanding discount grocery footprint across all three Baltic countries, competing directly with MAXIMA on price-sensitive basket. Comparable as a hard discounter targeting similar everyday grocery customers in the same geographies.
• Selver (Coop Eesti): Selver is one of the leading supermarket chains in Estonia, owned by Coop. Directly comparable as a national/regional grocery retailer competing with MAXIMA EESTI for Estonian grocery share, with both physical stores and online ordering.
• Coop (Baltic operations): Coop Estonia and affiliated Baltic consumer cooperatives operate grocery stores across the region, directly competing with MAXIMA in everyday food retail. Comparable as a multi-country Baltic grocery operator with both owned and member-store formats.
• Kaufland (Schwarz Group): Kaufland operates hypermarket stores in Lithuania and other Baltic markets, competing directly with MAXIMA on full-line grocery assortment at value pricing. Comparable as a large-format discounter hypermarket chain targeting the same Baltic consumers.

Regional players

• Prisma (SOK): Prisma is a leading Finnish hypermarket and supermarket chain operated by SOK, with multi-format grocery and private label focus. Comparable in business model (multi-format, strong private label, integrated retail) though it serves Finland rather than the Baltics.
• Stokrotka (PARETAS B.V.): Stokrotka is a Polish supermarket chain with 981 stores and €1.9B revenue, recently divested from MAXIMA GRUPĖ to related party PARETAS B.V. Historically part of the same group and directly comparable as a multi-format supermarket operator, though it now operates in Poland rather than the Baltics.

Broad incumbents

• Carrefour: Carrefour is a global multi-format grocery retailer (hypermarkets, supermarkets, online) with operations across Europe. Comparable as a broad incumbent in full-line grocery retail, though it does not operate in the Baltics and serves a much larger footprint.
• Ahold Delhaize (Albert Heijn): Ahold Delhaize is a major European and US grocery retailer with multi-format supermarket and e-commerce operations. Comparable as a large incumbent grocery group with strong private label and digital grocery (bol.com, Albert Heijn) capabilities.

Emerging players

• Wolt Market (Wolt / DoorDash): Wolt Market operates dark-store-based rapid grocery delivery in Baltic cities and competes with Barbora on online grocery convenience. Comparable as an emerging online grocery competitor serving the same Baltic consumer base with overlapping e-commerce ambitions.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/maxima-grup-

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Subsidiaries6 records

Funding overview

Funding rounds2 records

Investors2 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Maxima Grupe