Magnit, the second largest retailer by revenue, buys Dixy chain

by time news

Magnit has agreed with Mercury Retail Group to acquire the Dixy retail chain. As follows from the message of the retailer, he plans to buy out the company Dixy Holding Limited, which manages 2,651 retail outlets (2,612 convenience stores under the Dixy brand mainly in Moscow, the Moscow region and St. Petersburg and 39 superstores Megamart) with a total with an area of ​​854,000 sq. The deal will also include five distribution centers for 189,000 sq. m. m in Moscow, St. Petersburg and the Chelyabinsk region. In the message “Magnit” says that the parties are awaiting approval of the transaction by the Federal Antimonopoly Service; it may be closed on August 31 this year (with a possible extension until September 30).

Magnit was founded by businessman Sergei Galitsky. For some time, the company was the largest retailer in Russia in terms of revenue, but in 2017 it ceded leadership to X5 Group (formerly X5 Retail Group). A year later, Galitsky sold almost his entire stake (29.1%) to VTB Bank, retaining only 3% of the shares. Now, apart from VTB, the largest shareholder of the chain is the Marathon Group of Alexander Vinokurov and Sergey Zakharov. The retailer’s portfolio, as of March 31, 2021, included 21,900 outlets (15,098 convenience stores, 471 supermarkets and 6331 drogerie stores). Revenue of “Magnit” at the end of last year amounted to 1.51 trillion rubles. According to this indicator, the company is second only to the X5 Group (1.73 trillion rubles).

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