Citadele Bank Finances Expansion of “A-BRANDS Cash & Carry” with €4.4 Million Loan
Citadele bank has granted a €4.4 million loan to SIA “Brands Only,” a subsidiary of “Teize Group,” to support the company’s daily operations, working capital, and expansion of its “A-BRANDS Cash & Carry” store network in the Baltics. The financing includes a guarantee from JSC Attīstības financial institution ALTUM, utilizing EU funds as additional security.
Supporting Growth and Market Competitiveness
The majority of the loan will be allocated to covering daily operational costs and bolstering working capital. A portion will also be dedicated to expanding the “A-BRANDS Cash & Carry” store network, with plans to open two to three new locations in 2026. Specific locations and opening dates will be announced upon completion of development work.
Kristaps Sarma, CEO of SIA “Brands Only,” emphasized the importance of the financing for maintaining a stable supply of goods and responding to market opportunities. “The financing granted by Bank Citadele allows us to make purchases more flexibly, work with larger volumes, expand cooperation with international suppliers and accelerate the development of the store network. This strengthens the company’s competitiveness in the Baltic market of everyday consumer goods and allows us to provide customers with a stable price offer,” Sarma stated.
Strategic Focus and Retail Sector Challenges
SIA “Brands Only” is currently undergoing a structural separation of its retail business into a separate company to enhance focus, transparency, and sustainable growth. The company operates in wholesale across the Baltics, as well as in retail, HORECA (hotel, restaurant, and catering), travel trade, and ship supply segments.
Vaidas Žagūnis, a member of Citadele bank’s board for corporate customer service, highlighted the importance of effective working capital management for sustainable growth in the retail and wholesale sectors. “We appreciate the company’s ambitions to strengthen its position in the Baltics and with this financing we support the next stage of growth,” Žagūnis said.
Sarma acknowledged the challenges facing the retail sector, including supply chain fluctuations, high price competition, changing consumer purchasing power, and rising labor costs. He predicts that the FMCG (fast-moving consumer goods) market in the Baltics will remain price-sensitive, with efficient supply chains and optimized retail formats becoming increasingly crucial.
About the Companies
SIA “Brands Only” is a company within “Teize Group” and has a long-standing presence in the Baltic market. It collaborates with internationally recognized brands such as P&G, Unilever, Lavazza, and Mars. Currently, the group operates six “A-BRANDS Cash & Carry” retail stores in Riga and the Latvian regions.
Citadele bank is a financial institution providing services to individuals and businesses in the Baltic region. Citadele offers a range of financial products, including loans, deposits, and investment solutions.
Citadel LLC, founded in 1990 by Kenneth Griffin, is a multinational hedge fund and financial services company with over $65 billion in assets under management as of January 2025. Citadel LLC is legally distinct from Citadel Securities, though both are owned by Griffin.