MOSCOW, June 16. /TASS/. X5 Retail Group has acquired 15 supermarkets of the Finnish chain Prisma in Russia’s second-biggest city of St. Petersburg, the food retailer said in a statement on Thursday. The stores will resume operations by mid-July under the Perekrestok brand.
"X5 Group that operates the Pyaterochka, Perekrestok and Chizhik retail chains, and SOK RETAIL INT. OY, a Finnish holding company that has announced its withdrawal from Russia, confirm that they have reached an agreement under which X5 will acquire the operator of Prisma supermarkets (15 stores in total) in St. Petersburg, as well as a kitchen facility," the statement said.
The Russian Federal Antimonopoly Service provided the relevant approval on June 15, 2022.
The stores will resume operations by mid-July, following the completion of required legal procedures and basic rebranding, as well as the filling of store shelves with X5's stock. Almost all stores will be integrated into X5's Perekrestok supermarket chain, according to the statement.
As part of the deal, X5 will assume the rights and obligations (except for the rights to the Prisma trademarks) of the legal entity that operated a network of 15 Prisma stores in St. Petersburg. The key conditions of the deal included X5's commitment to retain Prisma operational staff and fulfil the company's obligations to its key partners, including its lessors, the retailer noted.
X5 Retail Group is a leading Russian food retailer. As of March 31, 2022, the company had 18,320 Pyaterochka proximity stores, 983 Perekrestok supermarkets, 89 Chizhik hard discounters and 28 Karusel hypermarkets.