MOSCOW, RUSSIA: X5 Group, a leading Russian food retailer, has secured an agreement to acquire Victoria Baltia, the operator of Victoria stores in the Kaliningrad Region, Moscow and the Moscow region, Deshevo stores in the Kaliningrad Region, as well as two distribution centres and a CASH hypermarket in Kaliningrad.
The deal has been approved by the Federal Antimonopoly Service (FAS) of the Russian Federation.
The deal encompasses 118 stores with a total selling space of 92,000 square metres, including leased facilities. In addition, X5 will take ownership of two distribution centres in the Kaliningrad Region with a total space of 14,200 square metres. The current management team of Victoria Baltia will continue to manage the company.
“The Kaliningrad Region is an exciting market that has high growth potential for X5 Group’s business, while also having a unique profile. In particular, it offers a limited number of locations to open new stores. The deal to acquire Victoria and Deshevo stores will help to consolidate our position in the Kaliningrad Region while improving the logistics support for our stores in this market,” said X5 CEO Igor Shekhterman.