X5 continues expansion in Russia's Far East with acquisition of Khabarovsk retailer Amba
MOSCOW. Nov 2 (Interfax) - X5 Group, one of Russia's largest retailers, has acquired the stores of Amba, a regional retailer that operates in Khabarovsk Territory, the group said in a press release.
The deal gives X5 long-term rights to lease 71 Amba stores, which will be renovated under the group's Pyaterochka brand. This process is expected to be completed by the end of the first quarter of 2024.
The acquisition further expands X5's presence in Russia's Far East, a market it entered in March 2023.