Pyaterochka Holding has confirmed that it has entered into negotiations with a view to acquiring Russian retailer Merkado.

In a statement released today (22 September) Pyaterochka said: “Pyaterochka Holding NV confirms that it is currently engaged in negotiations which may lead to the acquisition of a chain of retail stores and real estate operating under the Merkado brand in Moscow, Russia.”

Merkado is owned by Nafta-Moskva. The chain consists of eight stores in the Moscow area.

Earlier this year Pyaterochka acquired the Perekriostok supermarket chain, becoming Russia’s largest food retailer in terms of sales volume with combined annual revenue of around US$3bn. The company hopes to further expand its footprint through Greenfield growth and acquisitions.