The owner of Russian supermarket chain Seventh Continent has reportedly rebuffed a bid from US investment fund TPG Capital.

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An unidentified source told Reuters today (1 February) that Alexander Zanadvorov was not interested in selling the retailer, which runs 125 outlets.


“The latest information is that Zanadvorov will not sell Seventh Continent. There will be no deal,” the source told Reuters.


Seventh Continent saw full-year sales jump almost 18% last year. The company posted like-for-like sales growth of 17.8%. On a consolidated basis, sales rose 32% to US$1.4bn.

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