Magnit to enter Tomsk Province through M&A activity

Magnit, the leading Russian grocery retailer, is planning to enter Tomsk in 2014 by acquiring a local retail network, according to the local authorities, quoted by Retailer.ru. However, the source has not named the company to be acquired. It is known, however, that Magnit has already started staff recruitment for its proposed Tomsk stores.
In addition, the company intends to open three Magnit stores in Strezhevoy (in the Tomsk Province). The first establishments are due to open in the spring of 2014.
The company was operating 8,093 stores at the end of 2013. These included 7,407 grocery stores in Russia and 686 cosmetics stores (the Magnit Kosmetik brand).

Source: Retail Russia

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