Moscow, 7 May 2020 – X5 Retail Group N.V. (“X5” or the “Company”), a leading Russian food retailer that operates the Pyaterochka, Perekrestok and Karusel chains (LSE and MOEX ticker: “FIVE”), has agreed with the Rait retail chain to open 21 supermarkets in the retail spaces occupied by Rait in the Urals and the Volga regions.
Under the transaction X5 will get the long-term lease rights for 21 locations with a total selling space of about 33 thousand square metres. Fifteen stores are located in Sverdlovsk region, three in Tyumen, two in Bashkortostan and one in the Khanty-Mansi Autonomous District. The integration of these locations with Perekrestok Supermarkets is due to be completed by late August 2020, and will double Perekrestok’s selling space in the Sverdlovsk region. The new stores will be covered by distribution centres located in Yekaterinburg and Samara.
This deal is fully aligned with X5’s growth strategy, which combined organic growth with tactical M&A, such as leasing a whole cluster of high-quality properties. The Company’s development in the Urals and the Volga regions promotes local economies, creates additional benefits for local producers as well as local populations, giving them access to modern retail services and new jobs.