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The Finnish DIY chain K-rauta is targeting further expansion in Russia. Managing director Pavel Lokschin said at Mosbuild that the company was seeking a DIY retailer or large non-food retailer for early acquisition.
The first signs of this emerged when K-rauta acquired a big box store belonging to the Metrika chain, which had to sell off the majority of its St. Petersburg assets, for one billion RUB in February. It is reported on the other hand that Metrika and Julmart want to merge, with Metrika contributing its network of stores and Julmart providing its logistics system.
Regardless of any intended acquisition, the Kesko subsidiary K-rauta also aims to grow further organically. The number of branches in St. Petersburg is expected to increase in the next few years from six stores at present to ten and the company will double its presence in Moscow to six stores. K-rauta also wants to expand in the regions outside these conurbations.
The first signs of this emerged when K-rauta acquired a big box store belonging to the Metrika chain, which had to sell off the majority of its St. Petersburg assets, for one billion RUB in February. It is reported on the other hand that Metrika and Julmart want to merge, with Metrika contributing its network of stores and Julmart providing its logistics system.
Regardless of any intended acquisition, the Kesko subsidiary K-rauta also aims to grow further organically. The number of branches in St. Petersburg is expected to increase in the next few years from six stores at present to ten and the company will double its presence in Moscow to six stores. K-rauta also wants to expand in the regions outside these conurbations.
