With this latest acquisition Lenta strengthens its commitment to Siberia
St-Petersburg, Russia; 22 September, 2015– Lenta, (LSE, MOEX: LNTA) one of the largest retail chains in Russia, is pleased to announce it has signed a purchase agreement with O’KEY Group to acquire a land plot in Tomsk for development into a new hypermarket.
The land plot is located at 59 Pushkin Street, Tomsk and has a total area of 34,987 sq.m. Lenta expects to construct a new hypermarket on this plot in 2016-2017. Lenta currently has one hypermarket in Tomsk and a total of 24 hypermarkets in Siberia across 10 cities.
This latest transaction follows the acquisition of three new stores and three land plots from O’KEY Group in Chelyabinsk, Volgograd, Omsk and Taganrog.
Lenta is one of the largest retail chains in Russia and the country’s second largest hypermarket chain (in terms of 2014 sales). The Company was founded in 1993 in St. Petersburg. Lenta operates 121 hypermarkets in 63 cities across Russia and 27 supermarkets in the Moscow region, with a total of approximately 782,222 sq.m. of selling space. The average Lenta hypermarket store has selling space of approximately 6,200 sq.m. The Company operates five hypermarket distribution centres.
The Company’s price-led hypermarket formats are differentiated in terms of their promotion and pricing strategies as well as their local product assortment. The Company employed approximately 35,100 people as of 31 December 2014.
The Company’s management team combines a mix of local knowledge and international expertise coupled with extensive operational experience in Russia. Lenta’s largest shareholders include TPG Capital and the European Bank for Reconstruction and Development, both of which are committed to maintaining high standards of corporate governance. Lenta is listed on the London Stock Exchange and on the Moscow Exchange and trades under the ticker: ‘LNTA’.
A brief video summary on Lenta’s business and its Big Data initiative can be seen here.
For further information please visit www.lentainvestor.com, or contact:
Public Relations & Government Affairs Director
Tel: +7 812 363 28 53
Yana Mogileva, PR Manager
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Mark Walter and Saule Jandossova
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Alexandra Semenova and Nikolay Konchurkov
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