Coop Switzerland has announced that its wholesale business, Transgourmet Central & Eastern Europe, has acquired Targovy Dom Global Foods.
Moscow-based Global Foods is one of the leading companies in the catering supply market in Russia, with an annual turnover of RUB 2 billion.
Transgourmet has been working with the company for several years, and says that with this acquisition, it can continue to develop its wholesale delivery business in Russia.
"It was time for the Coop to find ways to expand its wholesale division Transgourmet in Russia," said Frauke Vor dem Berge, retail analyst at Lebensmittel Zeitung.
"In recent years, the Russian operation has struggled due to the volatile market. Once being Transgourmet's country with the biggest potential, the Russian operation has to face the difficult political situation."
According to Lebensmittel Zeitung, Coop operated eight cash & carry stores in Russia in 2016, contributing a turnover of around €200 million to the group total.
© 2017 European Supermarket Magazine – your source for the latest retail news. Article by Sarah Harford. Click subscribe to sign up to ESM: The European Supermarket Magazine.