The Russian hypermarket chain Lenta acquired the retailer Monetka, but the amount of the transaction was not specified. The purchase will help Lenta strengthen its position in Western Siberia and the Urals, according to the retailer’s website.
Lenta acquired 99.999% of RM Group, the parent company that operates Monetka stores.
The agreement is in line with the company’s strategy to transform Lenta into a multi-format player, the press release explains. The company also intends to develop the convenience store format.
Already in the summer it was reported that the retailer was planning to buy the Monetka chain. At the time, analysts valued the network at about 100 billion rubles, but assumed that Lenta could acquire the business for 60-70 billion rubles.
Today Monetka manages 2,120 stores, its total commercial area is 606,000 m2. m. In this case, all premises are rented.
The agreement also included five distribution centers with a total area of 116 thousand square meters. m and a fleet of trucks.
“This transaction gives us the opportunity to simultaneously acquire more than two thousand stores with an established customer base, qualified personnel and a recognizable brand,” said Alexey Mordashov, Chairman of the Board of Directors of Lenta, commenting on the purchase.
The company also clarified that the Monetka business will operate as a separate structure and the chain will also retain its own brand.
“Monetka” was founded in Yekaterinburg in 2001; Today the chain operates discount stores in Yekaterinburg, Perm and other cities. The owner is Roman Zabolotnov. Lenta belongs to the Sever group, owned by Alexey Mordashov.
Author:
Natalia Gormaleva
Source: RB
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