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Lenta LLC, an indirect subsidiary of Lenta IPJSC, one of the largest multi-format retail chains in Russia, has announced an agreement to acquire the supermarkets business of Billa Russia GmbH (“Billa Russia”) for EUR 215 million in cash.
The acquisition significantly accelerates Lenta’s expansion in Moscow, adding prime retail locations that represent mature retail properties with a high sales density. As a result of the transaction, Lenta will have a total food retail market share of approximately 3% in Moscow and the Moscow region.
The acquisition is expected to make a meaningful contribution to Lenta’s revenue growth and performance.
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