Krasnoye & Beloye to merge with competitors after searches conducted in December
Earlier, the work of the liquor store chain was paralyzed due to investigative actions.
The owners of the Krasnoye&Beloye (Red&White), Bristol and Dixy retail chains decided to merge their businesses. The merger will create the third largest food retailer in Russia after X5 Retail Group and Magnit, Kommersant reports.
The 51% stake in the merged company will belong to the beneficiaries of Dixy and Bristol, Igor Kesayev and Sergey Katsiyev, while Sergey Studennikov, the owner of the Red&White network, will receive another 49%.
Before the New Year holidays, the work of the Red&White was paralyzed – special services conducted searches in the company’s Moscow and regional warehouses, suspecting the retailer of counterfeit trade. Three network warehouses in the Tatarstan, Saratov and Moscow regions were deprived of licenses for the purchase, storage and supply of alcoholic beverages. However, in January 2019, the license suspension record disappeared from the relevant state registry of the Federal Service for Alcohol Market Regulation.