X5 Retail Group, Russia’s largest retailer in terms of sales, has signed an agreement to acquire discounter chain Kopeyka for RUB 51.5 billion, including assumption of debt.
Kopeyka, the third largest soft discounter in the Russian food retail market in terms of revenue and number of stores, operates more than 660 stores with a total selling area of over 290,000 sq.m.
It is expected that by the end of 2010, Kopeyka will have rights for approximately 700 stores.
Kopeyka operates soft discounter stores in the European part of Russia, with more than 50 per cent of its business in Moscow and the Moscow region. It reported net revenues of RUB 59.3 billion and EBITDA of RUR 3.8 billion for the 12 months to the end of June.
– IndiaRetailing Bureau
