Moscow, 26 April 2019 – X5 Retail Group N.V. ("X5" or the "Company"), a leading Russian food retailer (LSE and MOEX ticker: "FIVE"), announces that it has completed implementation of an agreement with RITM-2000 to open stores in the retail premises occupied by the latter in the central part of Russia.
As part of the deal, X5 obtained the long-term lease rights to 85 stores previously operated under the Telezhka, Tverskoy Kupets and Volny Kupets brands. The retail premises are located in the Tver (70 stores), Smolensk (7 stores), Novgorod (6 Stores) and Pskov (2 stores) regions and boast a total selling space of 42,000 sq m.
The Pyaterochka proximity format has integrated 81 of the stores, and the remaining four are operating under the Perekrestok brand.
This deal is fully in line with X5's development strategy, which seeks to combine organic growth with tactical M&A, targeting lease agreements for a pool of high-quality retail premises. The central part of Russia is one of the key regions for X5. The Company's presence in these markets contributes to economic growth and offers additional benefits for local suppliers and communities by redefining the modern retail experience and creating new jobs.
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