X5 Retail Group N.V. Acquires Former Franchisee in Samara
X5 Retail Group N.V., ("X5" or the "Company"), a leading Russian food retailer, announced today that the Company has acquired a 100% participation interest in "Agrotorg- Samara". X5 has received all necessary approvals from the Federal Anti-monopoly Committee for the acquisition.
"Agrotorg-Samara", established in 2004, is a former X5 franchisee operating 116 stores in Samara and the Samara Region with total selling space of 36 thousand square meters, of which two-thirds are leased. For the first six months of 2014, "Agrotorg-Samara" reported net sales (net of VAT) of approximately three billion Roubles.
The acquired stores will be operated by Pyaterochka alongside the 168 stores the format currently runs in the Samara region. X5 also has 16 Perekrestok supermarkets and five Karusel hypermarkets in the region.