Alexey Mordashov's company agreed to purchase the Russian supermarket chain Billa
The Lenta retailer, owned by Russia's richest billionaire Alexei Mordashov, has agreed to purchase the Russian supermarket chain Billa for 215 million euros. They plan to close the deal in the summer of 2021, before that the parties must obtain approval from the Federal Antimonopoly Service.
Lenta will integrate 161 acquired supermarkets, logistics infrastructure and more than 5,400 Billa employees into its network, the company said. Billa stores will be transferred under the Lenta brand, and the Billa Russia trademark will cease to exist. Now Billa has supermarkets with a total area of 138,051 sq. M. m, most of the stores are located in Moscow and the Moscow region, the distribution center is located in Bykovo, Moscow region.
"Lenta" said that after the completion of the transaction, its total market share in Moscow and the Moscow region will reach approximately 3%. According to Lenta itself, it will become the second largest supermarket in Moscow. The agreement will significantly accelerate the expansion of the retailer in the capital, the company believes. She expects Billa to make a significant contribution to the growth of its sales and financial results.