LEROY MERLIN INTENDS TO SELL ALL ITS RUSSIAN STORES
Leroy Merlin, a French giant in the sale of DIY equipment and one of the main foreign employers in Russia, announced on Friday that it wanted to sell all of its stores in this country to “local management”, more than a year after the start of the conflict in Ukraine. Adeo, the parent company of Leroy Merlin, owned by the Mulliez family, has indicated “its intention to cede control” of the company, established for 18 years in the country, its second largest market in the world after France.
This operation, which will be subject to the approval of the competent authorities in Russia, “should make it possible to preserve the jobs of the 45,000 employees and to perpetuate the activity of the company”, argues the group, citing “a work started several months in compliance with the applicable regulations”.
Several brands owned by the Mulliez family remained very established in Russia, despite the invasion of Ukraine. Leroy Merlin’s 113 stores represent between 18 and 20% of the company’s total turnover, she told AFP.