X5 Considers Acquisition Of 100 Ufa Stores In Bashkortostan
Russia's X5 Retail Group has announced that it is considering the acquisition of 100 Ufa grocery stores, located in various cities across Bashkortostan.
These stores, including 38 located in the city of Ufa, would be integrated into the retailer's Pyaterochka chain.
X5 has summited a a request to the Federal Antimonopoly Service of the Russian Federation, and the deal is subject to this approval.
Earlier this week, X5 reported net sales of RUB 1,286,870 million in 2017, representing growth of 25.5% year on year.
The retailer says that this increase was driven by its continued expansion across Russia, having added 2,934 new stores to its portfolio last year.
© 2018 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.