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X5 enters dark kitchen segment

April 12, 2021. TAG: Retail Trade

X5 Retail Group ("X5" or the "Company"), a leading Russian food retailer (LSE and MOEX ticker: "FIVE") that operates the Pyaterochka, Perekrestok, and Karusel retail chains, announced a deal with Mnogo Lososya to enter the dark kitchen segment of the food market. This decision is in line with X5's strategy to meet the fullest possible range of customers' food-related needs, in particular by expanding the product offering in the fast-growing ready-to-eat segment.

Mnogo Lososya is a food tech project started by Yakov Mendeleev and Alexander Mutovin that operates a chain of dark kitchens and a number of online eating-out brands. Currently, it runs 25 kitchens, four brands (Mnogo Lososya, Ten Ideal Pizzas, Rolls No. 1, and YAJI), a mobile app and a software suite that supports its key business processes, including food cooking and delivery. The acquisition will bring the Company the Mnogo Lososya franchise and the team that founded and developed the project. The deal value is not disclosed.

Mnogo Lososya now delivers over 60,000 orders per month through its partners, Delivery Club and Yandex.Eats, as well as its own courier service.

"We have been consistently building a vertical integration of production and sales channels in our Ready Food business. Our Kitchen Factory in the Moscow metropolitan area now includes a dark kitchen. While this segment currently accounts for just 5% of the ready-to-eat meals delivery market, its growth rates are outpacing other online HoReCa segments and dark kitchens are expected to gain traction going forward. Leveraging synergies with Mnogo Lososya, Х5 will be well positioned to meet our customers' needs for rapid delivery of freshly cooked meals and to offer the unique combination of groceries and ready-to-eat meals through X5's delivery services. We intend to continue actively developing this business area and are open to new proposals that could help strengthen our positions in the food market," said Igor Shekhterman, CEO of X5 Retail Group.

"Capitalising on X5's investments, infrastructure and expertise, we are one step closer to our dream, which is to offer fast delivery of high-quality and diverse food to as many people as possible, thus maximising the time they can spend on socialising and pastimes. To this end, we plan to build more kitchens, launch new brands and strive for higher speed and quality of our product offering," said Alexander Mutovin, co-founder of Mnogo Lososya.​

X5 Group

X5 Group is a leading Russian food retailer (LSE and MOEX ticker: "FIVE")