21/12/2017 |

X5 agreed on the purchase of supermarkets “Okay”

X5 Retail Group

They will be integrated into the Perekrestok trade network.
X5 Retail Group (manages the networks Pyaterochka, Perekrestok and Karusel) has agreed with O’Key to buy supermarket business, according to a joint statement by retailers. The Federal Antimonopoly Service approved the deal. Now these supermarkets work under the brand “Okay.” They will be integrated into the Perekrestok trade network.

We are talking about 32 supermarkets: eighteen 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. Also in the transaction included real estate objects (supermarket buildings) – 13 in St. Petersburg and one in Moscow.

The acquisition of supermarkets fully corresponds to the X5 strategy to strengthen the position of “Crossroads”, says the chief executive of retailer Igor Shekhterman.

O’KEY General Director Miodrag Boroyevich said that the deal will allow the company to concentrate on the main strategic priorities of the business – improving the efficiency of compact city hypermarkets and accelerating the growth of discounters’ business.

“Okay” at the end of September belonged to 72 hypermarkets, 37 supermarkets of the same name and 59 discounters “Yes!”.

The main business “Okay” has been experiencing difficulties the last few years. For January – September 2017, the net revenue of supermarkets and hypermarkets “O’Key” fell by 2.1% to 38.27 billion rubles. The company explained this by reducing the number of stores and outflow of buyers due to increased competition.

For O’Key, the development of supermarkets has never been a priority, said General Director of Infoline Analytics Mikhail Burmistrov to Vedomosti in November. The only risk for the group “Okay” is that the sale of supermarkets can complicate the development of online trading, he believes: for such purposes, this format is more convenient than hypermarkets.

Author: Darya Korzhova

Article in Russian: Vedomosti

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