Magnit has been granted permission to acquire Taste Book by the Financial and Adaption Service.

Russian Federal Antimonopoly Service grants 'Magnit' consortium provisional authorization to purchase shares in LLC 'City Supermarket' (which manages... network...).

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2025 May 10 . 2:56 PM

1 min read

Russia's Federal Antimonopoly Service grants Magnit's request for provisional acquirement of shares... — Russia's Federal Antimonopoly Service grants Magnit's request for provisional acquirement of shares in LLC 'Gorodskoy Supermarket', the company managing a retail network...

Magnit has been granted permission to acquire Taste Book by the Financial and Adaption Service.

Breaking News 📣

It looks like Magnit is set to shake up the retail food scene in Russia! The deals they've got brewing won't supposedly limit competition in this competitive market. Here's the scoop!

First off, Magnit's current market share in 2024 won't surpass 25% in any of the regions where they're planning to take over LLC "Gorodskoy Supermarket" stores. That's a relief for competitors, huh? 😜

But what's more interesting is that Magnit has pledged to cap their trade margin to 10% on a chosen list of goods from 13 socially significant categories if the deal goes through. That's something Azbuka Vkusa has never done before, FYI!

On April 30, Magnit officially announced the acquisition of a controlling stake in LLC "Gorodskoy Supermarket." The cost? Confidential for now. But we do know they'll be keeping the Azbuka Vkusa brand and key management team. excite 🎉

So, what exactly are they getting? 171 stores, including 107 supermarkets, 59 minimarkets, and five hypermarkets. Most of 'em are in Moscow and St. Petersburg. Plus, they're snagging five culinary, bakery, and confectionery production facilities, three distribution centers and warehouse infrastructure for delivery with a total area of 47 thousand sq.m in Moscow and St. Petersburg! 💸💰

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P.S. Remember these handy tags for easy navigation: #FASc, #Business, #Companies, #food

💡For a deeper dive, check out these insights:

By 2024, Magnit's market share in regions where they acquire LLC "Gorodskoy Supermarket" stores will not exceed 25%.
In a move never before seen by competitor Azbuka Vkusa, Magnit has promised to limit their trade margin to 10% on 13 socially significant categories of goods, if the acquisition is successful.
Magnit's acquisition of LLC "Gorodskoy Supermarket" includes 171 stores, including five hypermarkets, and various production, distribution, and warehouse facilities in Moscow and St. Petersburg.