Kopeyka (supermarket)

Kopeika store in Yuzhnoye Butovo District.

Kopeika (Копейка) was a Russian retail chain that collapsed as a result of the Great Recession.

Kopeika was founded in 1998 with 38 stores.[1] The grocer gained wider prominence when it was taken over by the ill-fated Yukos oil giant in 2002.[2] On the latter's demise a controlling stake was sold to NIKOIL.[3] In 2006 50% was sold on to another local chain by which time there were 267 stores and 4 distribution centers.[4]

In 2010, Kopeyka was acquired by competitor Pyaterochka, part of the X5 Retail Group, for $1.65 billion.[5] By the end of 2011, 616 Kopeyka stores had been rebranded and 44 stores had been shut down.[6]

References

  1. ↑ "Yukos Sells Its 50.5% of Kopeika". 2003-10-06. Retrieved 2007-12-31.
  2. ↑ "Moscow Times - Yukos take over". 2002-01-21. Retrieved 2007-12-31.
  3. ↑ "RUSSIA: NIKOIL PICKS UP KOPEIKA". Retrieved 2007-12-31.
  4. ↑ "Reuteurs -Seventh Continent, X5 Bid for Russian Kopeika". 2006-12-05. Retrieved 2007-12-31.
  5. ↑ http://www.vedomosti.ru/newspaper/article/251171/cvetkov_prodal_kopejku
  6. ↑ http://www.x5.ru/common/img/uploaded/files/X5_Q42011_Trading_Update_FINAL_ru.pdf

External links

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