The Latvian Competition Council (KP) has approved SIA 'MĀRKSMENS' to acquire lease rights over commercial premises previously rented by SIA 'Lekon' in Riga. This decision allows for the expansion of the 'top!' and 'mini top!' store network in Latvia's capital.

'MĀRKSMENS' is a retail company specializing in non-specialized stores primarily selling food, beverages, and tobacco products, owning 32 stores across Latvia. On the other hand, 'Lekon' operates 13 'Citro' and 'Eldo' stores in various Latvian locations.

The Competition Council notes that the merging companies operate in horizontally related markets, particularly in the retail of food, beverages, and similar daily consumer goods.

After evaluating the information provided by the companies and available to the KP, it was concluded that the merger will not significantly alter market structure, diminish competition, or establish or strengthen a dominant position in the affected markets in Latvia, hence the merger is permissible.

Competition Council approval is required for mergers that meet the criteria set out in the Competition Law to prevent a substantial decrease in competition. This oversight aims to prevent structural changes that could limit consumer choice in the long term or result in the purchase of goods and services at non-competitive prices.

For more information on merger control in Latvia, visit the Competition Council's website section on 'Market Participant Mergers'.