Lenta International PJSC Lenta Completes Acquisition of Semya Group (7846J)
August 26 2021 - 8:00AM
UK Regulatory
TIDMLNTR TIDMLNTA
RNS Number : 7846J
Lenta International PJSC
26 August 2021
Press Release | St. Petersburg | 26 August 2021
Lenta Completes Acquisition of Semya Group Business
St. Petersburg, Russia, 26 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 Semya Group business.
The purchase price at closing amounted to RUB 2.45 billion,
reflecting certain closing adjustments related to actual levels of
cash, debt and working capital of the business.
As a result of the acquisition, which was approved by the
Russian Federal Antimonopoly Service in July 2021, Lenta will have
a total food retail market share of approximately 7% in the Perm
region and the combined business will enhance its position as the
fourth largest retailer in Perm.
Lenta plans to integrate the newly acquired stores, supply chain
infrastructure and Semya's employees into the Lenta retail network
over the course of the next 12 months.
This acquisition support Lenta's strategic goals and creates
multiple synergies for the business going forward.
Vladimir Sorokin, Chief Executive Officer, commented:
"We remain committed to our long-term goal of becoming one of
the retail champions on the Russian retail market. The acquisition
of Semya Group will support Lenta's expansion into smaller formats,
while also creating a solid base for the development of our network
and strengthening our position in the Perm region. This acquisition
confirms our commitment to play an active role in the consolidation
of the grocery retail sector in Russia's regions.
Semya Group has a unique product assortment and high customer
loyalty. One of our top priorities throughout the integration
process will be to maintain and improve the current level of
services in the acquired stores, as well as to benefit from the
proven expertise of Semya Group in culinary and confectionary
production. Moreover, Semya's store locations will enable Lenta to
offer fast delivery across the entire city and support the
development of our online business in the Perm region.
We are very pleased to welcome Semya Group employees to the
Lenta family."
For further information please contact:
Lenta Lenta
Mariya Filippova Tatyana Vlasova
Head of Public Relations and Government Head of Investor Relations
Affairs tatyana.vlasova@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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