Russia: Kopeika acquires 48 Ekonta stores

Russian retailer Kopeika is reported to have acquired 48 stores and a distribution centre from Ekonta, in a deal worth US$100m. The stores will be re-branded into Kopeika's discount format. Earlier this year Ekonta, which is owned by UK based Millhouse Capital, divested 17 stores to Magnit.

Kopeika is currently focusing on expansion plans and has opened 13 new stores since the start of the year. Seven of the new stores are located in Moscow and its surrounding regions, one in Tver, two in Ryazan and three in Yaroslavl.

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