Moscow, 16 June 2022 – X5 Group (“X5” or the “Company”, LSE and MOEX ticker: FIVE), a leading Russian food retailer that operates the Pyaterochka, Perekrestok and Chizhik retail chains, and SOK RETAIL INT. OY, a Finnish holding company that has announced its withdrawal from Russia, confirm that they have reached an agreement under which X5 will acquire the operator of PRISMA supermarkets (15 stores in total) in St Petersburg, as well as a kitchen facility. The Russian Federal Antimonopoly Service provided the relevant approval on 15 June 2022.
As part of the deal, X5 will assume the rights and obligations (except for the rights to the PRISMA trademarks) of the legal entity that operated a network of 15 PRISMA stores in St Petersburg. The stores will resume operations by mid-July, following the completion of required legal procedures and basic rebranding, as well as the filling of store shelves with X5’s stock. Almost all stores will be integrated into X5’s Perekrestok supermarket chain.
The key conditions of the deal included X5’s commitment to retain PRISMA operational staff and fulfil the company’s obligations to its key partners, including its lessors.