X5 Group to acquire Tamerlan.

X5 Group, food retailer, agreed to acquire Tamerlan, a retail chains operator. Financial terms were not disclosed. “X5 Group’s strategy envisages aggressive business expansion through both organic growth and M&A as well as strategic partnerships, such as the one we established last year with the Krasny Yar and Slata chains. The acquisition of Tamerlan will enable us to expand our presence in southern Russia and gain leadership in this region. At the same time, local customers will now have more opportunities to shop for a wide range of products at affordable prices at the stores of Russia’s largest retailer,” Igor Shekhterman, X5 Group CEO.