The Russian supermarket operator Magnit consolidates its position in the sector by acquiring a Azbuka VKUSA from Premium segment.
Magnit, whatest shareholder is the Russian investment firm Marathon, you have transformed yourself in recent years into a conglomerate. It currently buys a controlling interest in Azbuka VKUSA.
That will add a high-end segment to the flowering company of Magnit, which covers a wide range of food stores market. Azbuka Vkusa is similar to Premium Grocers Whole Foods in the US and Waitrosis in the UK.
“The acquisition of Azbuka VKUSA offers us the possibility to fulfill our retail positions in Moscow and the introduced mainly a new segment for us, Premium Retail, which will fulfill Ulable Ullast in a statement.
Magnit has to be huge witnesses, with more than 31,000 stores in Russia and nearby Uzbekistan. According to a company resort of the company report, it worked up last year for a total of 2,350 stores.
The company was a strong growth last year. Net retail sales grew by 20.3% compared to the previous year, driven by a combination of 8.8% sales space growth and 11.2% like-for-like revenue growth, the company said in its report.
In the meantime, the online segment raised, with e-commerce gross merchandise value (GMV), the total value of the merchandise sold, more than doubling last year to rub 100.6 billion (USD 1.23 billion).
In 2023, Magnit completed the acquisition of the Kazan Express Marketplace and has since transferred it to his homemade Magnit market, which you have more than 4,600 pick-up points in 275 cities.
The current acquisition of Azbuka VKUSA is waiting for the approval of the Russian government and the fulfillment of the under connection by the parties, according to a press release.
The deal Worth is estimated at 35-40 billion rubles ($ 428-490 million), the RBC News Outlet reported Wednesday, referring to three sources that are familiar with the conversations.
“The Azbuka Vkusa brand is known for its wide range of high -quality and exclusive products, as well as a high level of service and loyal customer base,” said Sluchevsky.
“A strong point is the ready-made food from Azbuka Vkusa,” Slachevsky emphasized. “This expertise will help improve the range of Magnitgroep stores and to extend it into a segment that is currently the fastest growing in retail trade.”
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