Obi Hypermarket Chain to Undergo Partial Transference to Severgroup
Here's the Rewritten Article:
In a strategic move, structures belonging to the business conglomerate Severgroup, led by tycoon Alexei Mordashov, have fortified their retail portfolio by acquiring a stake in the Obi construction hypermarket network from the "Sindica" group. This information is courtesy of Shopper's, as reported by three well-informed sources and the network's landlords. Despite the unknown size of the acquired stake, insiders hint that ultimately, Severgroup structures will become sole owners of the retailer.
This major move could signal a potential merger with "Lenta," another retailer under Severgroup's wing, but specifics remain elusive. It's important to remember that Severgroup already owns several retailers, having snatched up 41.9% of "Lenta" shares in 2019, with the remaining shares in free float. The deal was worth a hefty $729 million, and Severgroup's stake in Lenta's charter capital later increased to 77.99%. Previously, "Magnit" network, Mordashov's main competitor, attempted to purchase Lenta.
Severgroup's expansion doesn't stop there. In December 2024, they successfully acquired 100% of AO "Trade House Era", the owner of the "Ulybka Radugi" network of stores, following a bidding war with Magnit.
Another coveted asset was the premium network "Azbuka Vkusa". Although Severgroup and Magnit locked horns, Magnit ultimately secured the controlling stake of the retailer. The deal encompassed stores, three distribution centers, and five factory-kitchens in Moscow and St. Petersburg.
However, Obi's ownership saga took an interesting turn in December 2023 when Hermes emerged as a new co-owner, obtaining 24.99% stakes in three of Obi's legal entities. Before this, all the legal entities were under the ownership of AO "Allonj," linked to the "Sindica" group of Senator Arsen Kanokov.
Previously, the German retailer OBI had announced its exit from Russia in March 2022, but the Russian management refused to close the stores, leading to multiple ownership changes. OBI had also requested a ban on using the brand's trademarks in Russia and threatened to switch to the Domus brand.
Currently, there are 24 OBI hypermarkets in Russia, situated in major cities such as Moscow, St. Petersburg, Nizhny Novgorod, and Yekaterinburg, along with Kazan, Krasnodar, Saratov, Ryazan, Bryansk, Tula, Volgograd, and Volzhsky.
Stay tuned for more updates on this developing story.
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Insights:
- Ownership Changes: Obi's ownership changes suggest a possible restructuring and consolidation within the retail sector in Russia.
- Competitive Landscape: The competitive landscape in Russia's retail sector seems to be dynamic, with major players like Severgroup, Magnit, and Lenta jockeying for position.
- Future Plans: Without official statements from Severgroup or Obi, it's difficult to speculate on the exact future plans following this acquisition. However, it's likely that there will be efforts to optimize operations, expand market presence, or leverage synergies with other businesses within the Severgroup conglomerate.
- I'm not sure about the final outcome, but it seems that Severgroup structures are in the process of becoming sole owners of Obi, a construction hypermarket network.
- This acquisition shares a connection with Severgroup's existing retailer, Lenta, but the specifics of a potential merger remain unclear.
- In the finance industry, Severgroup's business ventures extend beyond 2025, as demonstrated by their acquisition of 100% of Trade House Era in December 2024.
- The industry is observing an interesting development with Hermes and Severgroup sharing ownership of Obi entities, highlighting a potential shift in the competitive landscape of Russian retail.
