Lenta International PJSC Lenta Completes Acquisition of Billa Russia (3764H)
August 03 2021 - 3:00AM
UK Regulatory
TIDMLNTR TIDMLNTA
RNS Number : 3764H
Lenta International PJSC
03 August 2021
Press Release | St. Petersburg | 3 August 2021
Lenta Completes Acquisition of Billa Russia Supermarket
Business
St. Petersburg, Russia, 3 August 2021: Lenta IPJSC (MOEX &
LSE: LNTA), one of the largest multi-format retail chains in
Russia, today announces that its indirect subsidiary Lenta LLC has
completed the acquisition of Billa Russia supermarket business.
As a result of the acquisition, which was approved by the
Russian Federal Antimonopoly Service in July 2021, Lenta will
become the #2 supermarket operator in Moscow and the Moscow region
by number of stores.
The purchase price at closing amounted to EUR 225 million,
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:
"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."
For further information please contact:
Lenta Lenta
Mariya Filippova Timothy Post
Head of Public Relations and Government Investor Relations Officer
Affairs timothy.post@lenta.com
maria.filippova@lenta.com
EM (international media inquiries)
Lenta@em-comms.com
About Lenta
Lenta IPJSC (LSE and MOEX: LNTA) is a leading Russian
multi-format food and FMCG retailer. The company operates
hypermarkets, supermarkets, and recently launched a new proximity
store format under the brand "Mini Lenta." It also provides
customers the option to shop online via its click-and-collect and
express delivery services. Lenta is Russia's largest hypermarket
operator and the fourth largest food retailer overall by Sales. The
company was founded in 1993 in St. Petersburg and as of June 30,
2021, operated 255 hypermarkets and 151 supermarkets in 88 cities
across European Russia with more than 1.5 million square meters of
Selling Space. The average Lenta hypermarket has approximately
5,500 square meters of selling space, the average Lenta supermarket
has 800 square meters, and the Mini Lenta format is 500 meters on
average. The company operates 11 distribution centers to supply all
of its stores. 2020 Revenues were RUB 445 billion (approximately
USD 6 billion).
Forward-Looking Statements
This announcement includes statements that are, or may be deemed
to be, "forward-looking statements." These forward-looking
statements can be identified by the fact that they do not only
relate to historical or current events. Forward-looking statements
often use words such as "anticipate," "target," "expect,"
"estimate," "intend, " "expected," "plan," "goal," "believe," or
other words of similar meaning. By their nature, forward-looking
statements involve risk and uncertainty because they relate to
future events and circumstances, a number of which are beyond
Lenta's control. As a result, actual future results may differ
materially from the plans, goals, and expectations set out in these
forward-looking statements. Any forward-looking statements made by
or on behalf of Lenta speak only as of the date of this
announcement. Except as required by any applicable laws or
regulations, Lenta undertakes no obligation publicly to release the
results of any revisions to any forward-looking statements in this
document that may occur due to any change in its expectations or to
reflect events or circumstances after the date of this
document.
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