X5 Retail Group buys out Pyaterochka franchisee
Russia-based X5 Retail Group has bought out the remaining 25% stake that was held by its former Pyaterochka franchisee partner for RUB576 million (USD16.5 million). The franchisee managed stores are located in Ekaterinburg and Chelyabinsk. As a result of the transaction, X5 now has complete control over the 103 Pyaterochka stores, with a sales area of about 370,000 square metres. Pyaterochka is the leading retailer in those two cities.
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