Moscow premium retailer “Azbuka Vkusa” will close a deal and buy the company “SVA Trading” (owned by Sergei Inozemtsev and his partners) in February 2014. Right now “SVA Trading” is a business owned by “SPAR”.
Early last week, “Azbuka Vkusa” has received an approval from the Federal Antimonopoly Service of Russia to purchase eight “SPAR” stores, a warehouse and manufacturing facilities. The total shopping floor space of the stores accounts for 10.1 thousand square meters. However, the company doesn’t hurry to make a purchase. “In December, during the peak season, the absorption of another business can be too much for the company,” – said a top-manager of the company.
Right now the deal value is undisclosed. Earlier it was stated that “SVA Trading” assets were worth $ 85-105 million.
“Azbuka Vkusa” plans to operate “SVA Trading” stores under its own brand within 3 months after the deal is closed.
In 2014 “Azbuka Vkusa” will expand its chain of stores by at least 20 new joints (including eight “SVA Trading” stores). The opening is planned to be conducted in Moscow, Moscow Region and St. Petersburg.