Russia's X5 Retail To Acquire O'Key Supermarket Business
Russia’s X5 Retail Group has announced that it is acquiring the supermarket business of food retailer O’Key.
The acquisition will consist of 32 supermarkets, including 18 in St Petersburg, four in Moscow, two in Volgograd, and one each in the Moscow and Leningrad regions, Astrakhan, Voronezh, Lipetsk, Togliatti, Krasnodar and Novocherkassk.
As part of the deal, X5 will also acquire the real estate for 14 stores. All of the supermarkets will be integrated into X5’s Perekrestok chain.
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