The Latvian competition authority, known as Konkurences Padome (KP), has approved the merger involving FIRMA MADARA 89 SIA, allowing the company to obtain rental rights for a retail space located at Kārļa Ulmaņa gatve 122, Riga. This space was previously operated by SIA SKAI BALTIJA under the brand Sky until March 2026.

FIRMA MADARA 89 specializes in retailing non-specialized goods, primarily daily consumer products, and plans to open a store under the brand top! in the newly acquired location. The merger report indicated that this acquisition would impact the daily consumer goods procurement market in Latvia.

KP conducted a thorough analysis and concluded that the merger would not significantly alter the market structure, reduce competition, or create a dominant position in any of the relevant markets in Latvia. Therefore, the authority decided to allow the merger, ensuring that it does not lead to a substantial decrease in competition.

To prevent significant reductions in competition resulting from mergers, the Latvian competition law requires that such transactions receive approval from the Konkurences Padome. This regulatory oversight aims to maintain market integrity and ensure consumers have access to competitive prices and choices.