Trading name VP Website www.vilniausprekyba.eu Founded 2003, Vilnius, Lithuania Number of employees 35,000 | Industry Retail Revenue 3.06 billion EUR Headquarters Vilnius, Lithuania Areas served Estonia, Poland | |
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Successor Maxima Grupė
Euroapotheca
Ermitažas
Akropolis group Area served Lithuania, Latvia, Estonia, Poland, Bulgaria, Ukraine Profiles | ||
Vilniaus prekyba (Lithuanian: UAB Vilniaus prekyba, previously Vilniaus Prekyba Group, VP Market) is one of the largest Lithuanian groups of private companies. It is a holding company through which shareholders manage numerous subsidiaries. It traces its roots to 1992. Private limited liability company Vilniaus prekyba is a private holding company, headquartered in Vilnius, Lithuania, that oversees, controls and manages the group of subsidiary companies operating retail and pharmacy chains, real estate development and shopping centre lease and management companies in the Baltic states, Poland, Bulgaria and Ukraine.
Contents
The Holding is a descendant of number of companies, which during the last decade have been undergoing frequent mergers as well as other changes within the boundaries of the same group, ultimately controlled by handful of Lithuanian individuals. Although the currently existing holding structure may be traced back as early as to the beginning of 2003, it was during the year 2004, when the long-lasting fundamentals of the holding company were laid down by the shareholders through accumulation of their shares in different companies under the umbrella of the Holding.Its principal shareholder is Nerijus Numavičius.
Prior to the present-day shape, in constant pursuit of improved efficiency, streamlined processes as well as optimal decision-making, the structure and composition of the group was subject to alterations number of times. Currently, the Holding is exclusively designed to manage, oversee and develop the network of retail stores and pharmacies chains.
Major subsidiaries
By means of its subsidiaries – private limited liability companies Maxima grupė, Euroapotheca, Ermitažas, Akropolis group – Vilniaus Prekyba operates retail and pharmacy chains, real estate development and shopping centre lease and management companies in the Baltic states, Poland, Bulgaria and Ukraine. Vilniaus Prekyba also controls the company Franmax which renders franchise and agency services to the companies of Maxima grupė.
History
The company was founded by nine men, who earned the nickname of VP 9 (Lithuanian" VP devintukas): brothers Vladas Numavicius, Julius Numavicius and Nerijus Numavičius, brothers Žilvinas, Mindaugas and Gintaras Marcinkevičius, Ignas Staškevičius, Renatas Vaitkevičius, Mindaugas Bagdonavičius. The core group met as medical students at Vilnius University. They started transacting in real estate. The retail business began when they could not resell a liquor store. Soon it became the main focus of the group. The extensive growth of the retail chain was funded by sale of various stocks that the group acquired during post-Soviet privatization campaigns. One of the transaction involved stock sale of four sugar refineries to Danisco. Other companies included Vilniaus paukštynas (poultry farm), Birštono mineraliniai vandenys (mineral water), Vilniaus mėsos kombinatas (meat packing), Vilniaus duona (bakery). In 2003, VP Group, through its subsidiary UAB NDX energija, bought 97.1% of shares in Vakarų skirstomieji tinklai (Western Power Grid Company), electricity distributor. After the successful transaction Darius Nedzinskas became the 10th shareholder of the VP Group in 2007. The group further pursued ambitious goals in the energy sector, becoming shareholder of LEO LT, the national investor established to raise funds for the planned construction of the Visaginas Nuclear Power Plant. After the failure of LEO LT in September 2009, the group had fallen out, undergoing significant changes in ownership and leadership.