30.04.2025, 13:25
Magnit has officially announced plans to buy a controlling stake in the ABC of Taste
Source: OREANDA-NEWS
OREANDA-NEWS PJSC Magnit plans to acquire a controlling stake in the retailer Azbuka Vkusa (LLC City Supermarket), the company said.
The closing of the transaction is expected after its approval by the FAS of the Russian Federation.
The transaction will be carried out through Magnit's main operating entity, JSC Thunder. The share and other parameters of the transaction were not disclosed.
The total retail area of the acquired assets is 100.4 thousand square meters. m. The transaction outline will also include five Azbuka Vkusa kitchen factories, three distribution centers and a warehouse delivery infrastructure.
It is expected that the ABC of Taste brand and its key management team will be retained.
"The purchase of Azbuka Vkusa gives us the opportunity to significantly strengthen our market position in Moscow and enter a fundamentally new segment of premium retail for us, which will allow us to close almost all customer missions in grocery retail," said Evgeny Slutchevsky, CEO of Magnit.
Azbuka Vkusa stores operate in the premium retail segment. In total, the company operates 171 stores, including 107 supermarkets, 59 minimarkets and 5 hypermarkets. Most of the stores are located in Moscow and the Moscow Region, while the remaining stores operate in St. Petersburg.
The closing of the transaction is expected after its approval by the FAS of the Russian Federation.
The transaction will be carried out through Magnit's main operating entity, JSC Thunder. The share and other parameters of the transaction were not disclosed.
The total retail area of the acquired assets is 100.4 thousand square meters. m. The transaction outline will also include five Azbuka Vkusa kitchen factories, three distribution centers and a warehouse delivery infrastructure.
It is expected that the ABC of Taste brand and its key management team will be retained.
"The purchase of Azbuka Vkusa gives us the opportunity to significantly strengthen our market position in Moscow and enter a fundamentally new segment of premium retail for us, which will allow us to close almost all customer missions in grocery retail," said Evgeny Slutchevsky, CEO of Magnit.
Azbuka Vkusa stores operate in the premium retail segment. In total, the company operates 171 stores, including 107 supermarkets, 59 minimarkets and 5 hypermarkets. Most of the stores are located in Moscow and the Moscow Region, while the remaining stores operate in St. Petersburg.
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