X5 Retail Group Announces Acquisition Of 100 Soseddushka Stores
Russia's X5 Retail Group has announced that it has purchased 100 stores operated by the Soseddushka group, in the Orenburg region.
The company said that the stores, which together account for around 63,000 square metres, will increase its presence in the region almost threefold.
X5 intends to revamp the stores under the Pyaterochka and Perekrestok banners.
"The chains intend to expand the new stores’ fresh offering (fruits, vegetables, meat, fish, and dairy), thereby strengthening X5’s cooperation with local suppliers," X5 said in a statement. "In terms of pricing, Pyaterochka and Perekrestok target all social groups, frequently offering attractive promotions and seasonal discounts."
X5 opened its first store in Orenburg, under the Pyaterochka banner, in February 2014.
© 2015 European Supermarket Magazine – your source for the latest retail news. Article by Stephen Wynne-Jones.