Russian grocer X5 Retail Group confirmed today (17 February) that it has received offers to sell its Kopeyka brand.
A spokesperson for the retailer told just-food that it has received “several” offers, but that it has not yet made any final decisions on whether it will sell the brand name.
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The retailer acquired the Kopeyka chain of 660 soft discount stores in December in a deal worth RUB51.5bn (US$1.6bn) and debt of RUB16.5bn. It is now in the process of converting the stores to its Pyaterochka and Perekrestok banners.
Corporate relations director Mikhail Susov told just-food that Kopeyka is a “popular brand” that could be the stimulus to develop a business and that it would be consider selling the brand for “tens of millions of dollars”.
However, he suggested that X5 may hold onto the brand name as selling it off may create a “strong competitor” to its Pyaterochka discount stores.
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