Germany-based supermarket chain Rewe has expanded its portfolio in the Russian retail market with acquisition of 13 Njam Njam supermarkets in Moscow.
The move, which is being overseen by the group's Austrian subsidiary Eurobilla, increases the number of Rewe-owned stores in the country to 59.
'As a result of the acquisition of the Njam Njam supermarkets, we are continuing to expand our position in the group of the leading grocers in Moscow and are generating new momentum for our future organic growth,' said Rewe Austria's international business manager Lionel Souque. 'At the same time, we are underscoring the major role that Russia plays in our internationalisation strategy.'
Revenues in Russia this year are forecast to increase by up to 40 per cent, according to International Supermarket News, with the group planning to approximately 20 new markets within and outside Moscow.
