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Magnit, a leading Russian retailer, has announced the acquisition of a controlling stake in Azbuka Vkusa, a premium grocery chain, through its subsidiary AO Tander.
Azbuka Vkusa operates 171 stores across multiple formats, primarily in Moscow and Saint Petersburg, alongside an online delivery service and catering business. The acquisition also includes five production facilities, three distribution centres, and significant warehouse infrastructure.
Post-acqusition, Magnit reportedly plans to retain the Azbuka Vkusa brand as well as key members of the management team.
Commenting on the deal, Magnit general manager Yevgeny Sluchevsky said “The Azbuka Vkusa brand is well known for its wide range of high-quality and exclusive products, as well as its high level of service and loyal customer base. The acquisition of Azbuka Vkusa give us an opportunity to substantially strengthen our retail positions in Moscow and enter into a principally new segment for us, premium retail, which will enable us to cover practically all consumer objectives in food retail”.
Source: Intellinews
