Krasnodar, Russia (January 19, 2024): Magnit, one of Russia’s leading retailers, announces that the Federal Antimonopoly Service (FAS) has approved the deal for the Company to acquire Samberi, the largest retail chain in the Russian Far East.

In October 2023, Magnit reached an agreement to acquire 33.01% equity stake in Samberi, with an option to buy out the remaining shares in the following five years. The first stage of the transaction is expected to be completed in the summer of 2024. The deal also stipulates a number of conditions to be fulfilled by the parties.

Samberi is the largest retailer in the Far East by store count and revenue, with around 300 stores across various formats: hypermarkets and supermarkets under the Samberi, Samberi Express, and Brosko Market banners, Raz Dva minimarkets, and Blizky discounter stores. Together, they boast a combined selling space of 210 thousand square meters. Samberi’s outlets operate in 38 municipalities in Primorsky, Khabarovsk, and Amur regions as well as the Jewish Autonomous Region. The retailer also has three distribution centers in Khabarovsk, one warehouse in Vladivostok, and a cross-docking facility in Blagoveshchensk. Overall, Samberi Group employs around 10.3 thousand people.

FAS approved the deal based on the fact that neither Magnit nor its affiliates are engaged in retail sale of food products in the municipalities where Samberi operates its commercial facilities, which means that the transaction would not violate the market share restrictions set forth in Russian antitrust law.

After the deal is closed, Samberi will continue developing under its banners and the current management team. Magnit’s representatives will be involved in strategic governance of the Samberi business as part of a joint venture agreement, which was also approved by FAS.

The acquisition of Samberi will expand Magnit’s footprint to include all Federal Districts of the Russian Federation, with the total number of covered regions reaching 71. The Company also expects the deal to result in synergies in terms of procurement conditions.

In turn, Samberi will be able to use the partnership with Magnit to improve its offering for consumers in the Far East by consolidating purchasing power and upgrading its operating processes, which, among other things, will have a positive impact on in-store prices.

Magnit gets FAS approval to acquire Samberi in Far East