Russian retailer Magnit, via its main operating subsidiary – Tander, will acquire DIXY Holding, the holding company for DIXY retail chain in Russia, for RUB 92.4 billion ($1.25 billion) DIXY presently operates 2,651 convenience stores in Russia whose 2020 annual revenue was RUB 281.4 billion. DIXY Holding also owns 39 superstores in Russia under the […]
Russian supermarket chain Magnit has launched its own express delivery service from Magnit Cosmetic stores in eight cities in Russia. The retailer plans to add six more cities for the delivery service by the end of the month. Magnit said that it has connected its cosmetic stores across Moscow, Kazan, Saint-Petersburg, Samara, Rostov-on-Don, Chelyabinsk, and […]
Russian retailer Magnit said that it has launched its own express delivery service in 14 more cities. According to the retailer, convenience stores in Ufa, Kazan, Samara, Yekaterinburg, Rostov-on-Don Voronezh, Perm, Orenburg, Nizhny Novgorod, Izhevsk, Yaroslavl, Tyumen, Saratov, and Chelyabinsk have been connected to the delivery service. Magnit said that customers can select the items […]
Retail acquisition news : State-controlled Russian bank VTB Group has agreed to buy out a 29.1% stake in Russian supermarket chain Magnit for a sum of nearly RUB 138 billion ($2.45 billion) from its owner and founder Sergei Galitsky. Established in 1994, Magnit has emerged as a leading Russian food retailer with a total of […]