In the future REWE International AG will focus its international activities in the full-range CEE (BILLA, IKI) on business in EU markets. "Our strategic goal is to achieve a top market position in all countries in which we are present with our stores and to achieve the highest possible synergy effects. With this in mind, we are constantly reviewing and streamlining our portfolio. The market situation in Russia, the size, interconnectedness and development of the market do not allow this despite high investments, so we have decided to concentrate on the successful EU markets in the full range and to focus our resources on these countries. This is the logical next step in our strategy and new positioning in full-range CEE," explained Espen B. Larsen, REWE International AG Executive Board Member responsible for full-range CEE.
BILLA has been active in Russia since 2004 and currently operates 161 supermarkets with more than 5400 employees - 300 of them in the head office and another 300 in logistics - in the greater Moscow area. Jobs, shops and logistics locations will be retained, and the supermarkets will continue to operate under the Lenta brand in the future.
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REWE International and LENTA LLC sign purchase agreement for BILLA RUSSIA
BILLA Russia GmbH and Lenta LLC announce to have reached the terms of purchase for BILLA Russia. REWE International AG via its subsidiary BILLA Russia GmbH signs a purchase agreement for 100% shares of their companies BILLA OOO and BILLA Reality OOO in Russia. That comprises its full range business in Moscow Oblast with 161 supermarkets. The closure of the deal is subject to the approval of the Russian anti-monopoly committee.
REWE International AG is focusing on its international activities in EU markets. "Our strategic target is to achieve in all our markets a top market position and to make use of optimum synergy effects. Taking this into account we constantly examine and adjust our portfolio. The market situation in Russia, size, complexity and development of the retail market do not allow this despite significant investments. That is why we decided to concentrate on EU markets and pool our resources there. This is the logical next step in our full range CEE strategy and new positioning", says Espen B. Larsen, Executive Board Member of REWE International AG for the full range CEE business unit.
BILLA has been operative in Russia since 2004 and is operating 161 stores in Moscow Oblast with more than 5,400 employees - among them 300 in the headquarters and further 300 in logistics. Jobs, stores and logistic sites will be taken over, the stores will be operated via the brand Lenta.
