The owner of Russian retailer Seventh Continent has agreed to buy smaller grocery operator Mosmart for RUB15bn (US$500.2m), according to reports.

Reuters reported late last week that the move could emerge as the latest step in the ongoing consolidation of Russia’s fragmented retail sector.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

Discover B2B Marketing That Performs

Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.

Find out more

Accorting to reports in the Russian press that have been republished on the Mosmart website, Alexander Zanadvorov has agreed to acquire 100% of the retailer from Sberbank Capital (50%), founders Shelukhina Andrew and Michael Bezelyanskogo (40%) and a board member of Sistema Evgeny Novitsky (10%).

Mosmart operates hypermarkets and is based in Moscow.

Neither Seventh Continent nor Mosmart could be reached for comment at the time of publication.

Last month, industry leader X5 Retail Group secured a significant acquisition when it bought rival Kopeika for $1.65bn.

GlobalData Strategic Intelligence

US Tariffs are shifting - will you react or anticipate?

Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.

By GlobalData

Just Food Excellence Awards - The Benefits of Entering

Gain the recognition you deserve! The Just Food Excellence Awards celebrate innovation, leadership, and impact. By entering, you showcase your achievements, elevate your industry profile, and position yourself among top leaders driving food industry advancements. Don’t miss your chance to stand out—submit your entry today!

Nominate Now