Lenta, one of the largest multi-format retail chains in Russia, has completed the acquisition of Billa Russia supermarket business. As a result of the deal, Lenta will become the #2 supermarket operator in Moscow and the Moscow region by the number of stores. The purchase price at closing amounted to €225m, reflecting certain closing adjustments related to actual levels of cash, debt and working capital of the business.
Lenta plans to integrate the 161 newly acquired supermarkets, supply chain infrastructure and Billa Russia employees into the Lenta retail network over the course of the next 12 months. The acquisition significantly accelerates Lenta's strategic expansion in Moscow, adding prime retail locations that represent mature retail properties with a high sales density.
Vladimir Sorokin, CEO, commented: “Expansion in the supermarket segment is a high strategic priority for Lenta, and this transaction is transformative as it instantly doubles the company’s footprint in this segment. Additionally, these attractive store locations enable Lenta to further expand its online express delivery offering across all of Moscow, supporting its ambitious plans to significantly grow the Lenta Online business in the coming years. We are excited by the new opportunities created by this acquisition, and we expect it to make a meaningful contribution to Lenta's revenue growth and performance.”
