Coop Estonia has signed a deal to acquire Prisma Peremarket and its 13 stores in Estonia from Finland’s largest co-op retail group, SOK.
In addition, the retail groups have announced plans to strengthen strategic co-operation, to offer a wider range of goods to Estonian shoppers.
The retail chains, which will continue to operate separately in Estonia until the Estonian Competition Authority approves the consolidation, are are not disclosing the cost of the transaction.
“Prisma’s assortment is diverse and unique,” said Coop chair Rainer Rohtla. “We want to bring the availability of products widely loved by customers in Scandinavia closer to a much larger proportion of Estonians through Coop’s wide network of stores.
“Coop’s strength, in turn, is the large proportion of Estonian products, which we plan to offer to consumers in Prisma stores even more widely than before.”
SOK president and CEO Hannu Krook added: “Coop is the best partner for S-Grup in Estonia. We have a similar co-operative background and values of responsibility. Coop has a strong and positive image in Estonia and is a recognised employer. We are pleased to co-operate more closely with them.”
Coop says the purchase of the Prisma stores will increase its presence in Tallinn. “After the transaction comes into effect, residents of the capital will be able to visit Coop stores in Tallinn as conveniently as they would in various parts of Estonia where they have a summer home,” said Rohtla.
“We are confident that everyone will find their home store in Coop in the future, and today’s Prisma customers will also appreciate that their beloved products will continue to be available and will also find new domestic flavours.”
So far, Coop says its market share in the Estonian capital has been modest. Even after the acquisition of Prisma stores, it remains slightly over 15%, which is below the retailer’s average market share.
In other regions, the acquisition of Prisma stores will not have a significant impact on Coop’s market share. According to Rohtla, Coop will not manage the acquired stores itself; they will be operated by its regional consumer co-operatives after the transaction enters into force.
For example, nine of Prisma’s 13 stores, located in Tallinn and Harju County, will be managed by Coop Harju, which currently has 28 stores. Other stores will be operated by regional consumer co-operatives in Tartu, Rapla and Narva. After the transaction enters into force, Coop says it wants to support the entry of Estonian products into the Scandinavian market through strategic co-operation with SOK.
The legal advisor to the buyer of the transaction was the law firm Cobalt, and the financial advisor to the transaction was the LHV investment banking team.
The transaction – the largest concentration of domestic retail trade in Estonian history – does not include the Prisma brand and the Sokos Hotel Viru hotel. The parties are not disclosing the cost and other terms of the transaction.
Coop is the largest and oldest food and consumer goods chain in Estonia, consisting of 18 local consumer co-ops and a central co-operative to coordinate activity. The group has around 320 stores located across Estonia, from large cities to small settlements, and in many regions is also the only provider of food and consumer goods services. Its net turnover in 2024 reached €856.1m, which keeps the retail chain in the market leader position in Estonia with a 23.16% market share. Coop employs nearly 6,000 people in Estonia.
Prisma Peremarket has been operating in Estonia since 2000. The chain has a total of 13 stores in Tallinn and Harju County, Tartu, Narva and Rapla, which, together with the support unit, employ over 700 people.
