03/23/2021 | Press release | Distributed by Public on 03/23/2021 03:30
Moscow, 22 March 2021 - X5 Retail Group, a leading Russian food retailer, announces that its Perekrestok chain has entered into an agreement with the food retailer Evroros to open 10 supermarkets in its facilities in cities across the Murmansk Region. Q2 2021 will see Perekrestok launch its first new concept stores in the region.
The selling space under the deal totals about 13,000 sq m, with eight supermarkets in Murmansk and one each in Kola and Apatity. Perekrestok stores will also open at two major shopping centres in Murmansk - Flagman and Volna.
As part of the deal, X5 will continue working with Evroros suppliers whose offering is in high demand with the region's consumers. The Group seeks to build long-term and mutually beneficial relations with local suppliers, making sure their produce is widely available at stores across the Company's retail network. Partnership with X5 is a great opportunity for local suppliers to take advantage of the Company's extensive retail channel, with consumers benefiting from a wide range of familiar local products at reasonable prices.
The deal is fully in line with X5's development strategy, which seeks to combine organic growth with tactical M&As targeting lease agreements for a pool of high-quality retail premises. The Company's continued expansion into Russia's north-western regions contributes to local economic growth and offers additional benefits for local suppliers and communities by redefining the modern retail experience and creating new jobs.