In July 2023, Firma Madara 89 īpašumi SIA, which is a related company of Firma Madara 89 SIA, the largest shareholder of the store chain top!, received a loan of EUR 6.1 million from SEB Bank for the construction and renovation of six projects in Cēsis, Jaunpiebalga, Grundzāle, Aknīste, Zvejniekciems and Ādaži.
Local top! customers will be delighted by three new stores at 25B Gaujas Street in Jaunpiebalga, 15 Avotu Street in Grundzāle, and 17 Augšzemes Street in Aknīste, which will open in late 2023 or early 2024. With the opening of the new stores in these towns, the current mini top! stores, which are smaller in area, offer a smaller selection and have outdated infrastructure, will be closed. Two brand-new stores are also planned in Zvejniekciems and Ādaži, which are scheduled to open in late 2024 and early 2025. The new stores will be spacious, built using modern solutions and outfitted with energy-efficient equipment and lighting. Additionally, there will be facilities for staff, a storage area, and a delivery service. Along with a more spacious sales area, a greater variety of products will be offered, including ready-to-eat meals, and pastries made in the local top!.
In late 2018, a new store called top! Cēsis opened in the centre of Cēsis on the site of the former Vidzemnieks cinema. The mini top! store located at 15 Raunas Street had to close its doors. With the help of a loan from SEB Bank, the decision was made to undertake a complete renovation of the historic building. The goal was to transform it into a space that would offer modern office facilities, residential space, and a Pasēdnīca café.
“The projects are being developed by Firma Madara 89 SIA, one of the largest Latvian companies with 100% local capital and the major shareholder of the store chain top!. The company is listening to the recommendations of residents and is committed to sustainability, the development of the store chain top! and regions, and the standardisation of the chain. To ensure that customers in each top! store feel like they are in their own store and can easily navigate, the sales areas and exteriors of all new stores will be designed to be very similar. The retail space will occupy the largest portion of each store, which is 335 sq m, out of a total area of 550 sq m that includes the building, land, and equipment. The project will also enhance the surrounding area of the store: new plants will be planted, parking spaces will be developed, charging stations for electric vehicles will be built close to some stores, self-service checkouts will be installed, high-capacity reverse vending machines, textile sorting containers, parcel lockers, bakeries and other kinds of services will be offered for the convenience of customers. The development of such projects will typically have a substantial impact on improving the infrastructure of populated areas and enhancing the convenience for residents,” emphasises Ilze Priedīte, Member of the Management Board the store chain top!.
Ģirts Priede, Head of SME Department at SEB Bank, says, “We are pleased to provide assistance for carefully planned investments that will yield substantial benefits for the growth of the company, as well as enhance the region’s infrastructure and broaden the range of services that residents require in their daily lives. We are pleased to have had the privilege of witnessing the growth of the company over an extended duration and providing our assistance through our financial services. The company has consistently demonstrated its ability to respond to market demands and achieve growth. This is evident in its current successful expansion of operations and focus on important sustainability factors, such as energy efficiency, accessibility, and creating an organised environment for customers, employees, and the local community.”
About the project developer Firma Madara 89 SIA
Firma Madara 89 SIA, a shareholder of the store called top!, is one of the largest companies in Latvia and the largest tax payer and employer in Vidzeme. This company with 100% Latvian capital was founded in 1993 and currently employs almost 1,900 people. The company has successfully expanded and developed throughout its existence, opening 104 top! and mini top! stores, 11 Labais stores, 6 Skapis stores, and 4 Pasēdnīca cafes in various cities and parish centres of Latvia. Additionally, it operates a ready-to-eat food production facility, bakeries, a bowling alley, two shopping centres (IGA Centrs in Aizkraukle and Centrs in Smiltene), and a small wholesale warehouse in Gulbene. The company also ensures the delivery of goods from two logistics centres in Riga and Smiltene.
Information prepared by:
Ilze Priedite
Member of the Board and Marketing Director of the top! store chain
E-mail: pr@toppartika.lv