X5 Retail Group, Russia’s largest retailer by sales, said today (2 April) that it had sealed the deal to buy out a franchisee of its Pyaterochka stores.
Last week, X5 announced that it planned to buy Kama Retail for US$18m. Kama is based in the Perm region east of Moscow and on the western slope of the Ural Mountains.
Under the agreement, X5 has bought 28 soft discount stores with a selling area of 9,300 sq metres.
X5 CEO Lev Khasis has labelled the deal as an “excellent opportunity” to expand in the Urals.
At the turn of the year, the X5 network included 674 soft-discount stores, 179 supermarkets and 15 hypermarkets.
Franchisees ran 688 stores across Russia and Kazakhstan.