On Thursday, the Competition Council (KP) of Latvia carried out procedural actions at the headquarters of the retail company SIA 'Maxima Latvija' located in Riga, according to information available from the LETA news agency. Representatives from Maxima confirmed that KP employees were present at the company's main office and that they provided all necessary information requested. However, the Competition Council did not disclose further details about the procedural actions but indicated that more comments would be provided on Friday, February 26.

In light of this development, it is worth noting that Maxima Latvia reported a turnover of 1.102 billion euros in 2024, which reflects a 2.6% increase compared to the previous year. However, the company's profits declined by 10.2%, amounting to 50.775 million euros. This situation arises amidst a backdrop of competitive practices and potential regulatory scrutiny concerning the operations of large retail chains in Latvia.

Maxima Latvia was registered in November 2000 and has a share capital of 4.91 million euros. The company is owned by Lithuanian firms 'Maxima grupe' and 'Maxima LT,' which are part of a business group controlled by Nerijus Numavicius, known for its extensive retail operations in the Baltic region. The outcome of the Competition Council's actions and any information provided could have significant implications for Maxima Latvia's business practices and regulatory compliance going forward.