X5 Group acquired wholesale grocery marketplace on May 24

As indicated in the press service, upon completion of the transaction, the May company will act as a strategic partner of X5 in the further development of the digital goods distribution system.

According to a Vedomosti source, the retail company received 100% of the shares of May24 LLC. Previously, they belonged to the founders and owners of the May company (tea brands Richard, Curtis, Maisky) Igor and Irina Lisinenko.

The general director of Infoline Analytics, Mikhail Burmistrov, estimated the amount of the transaction at approximately one billion rubles “taking into account the development prospects of the project.”

May24 is a B2B marketplace where manufacturers and distributors offer everyday products to regional retail chains and independent non-chain retailers.

The X5 representative noted that the development of May24 within the group should improve the accessibility of small wholesale purchases for small and medium-sized businesses. First of all, this is a network of small-format stores under the Okolo brand, which the retailer develops as a franchise.

• In March, the Russian government included X5 Group’s asset manager in the country, LLC Corporate Center ICS 5 (now PJSC), on the list of economically significant organizations. This allowed the Ministry of Industry and Trade to initiate proceedings in the Moscow Region Arbitration Court, as a result of which X5 Group lost its corporate rights to its Russian subsidiary. The Dutch company attempted to challenge the court’s decision, but rejected the appeal. In September, Grupo X5 filed an appeal; The case will be heard on November 21.
• By the end of 2024, the retailer aims to complete the move from the Netherlands to Russia. Trading of shares of the Russian “ICS 5” on the stock exchange will begin only after the measure, but the securities are already traded on the over-the-counter market.