ATB buys Barvinok network

ATB buys Barvinok network

21.11.2016 News

As “Liga.net” reports, ATB will have finished the transaction on purchase of large West Ukrainian Barvinok retail network until the end of the year.
ATB,the largest food retailer buys the Barvinok West Ukrainian network.The network has already changed the owner in 2015. Then Eurotek purchased it.
The investment banker who wished to remain unnamed reported:”ATB applies for 17 of 27 shops of a network. It is about the sale not of all business but only rooms, the equipment and a commodity remaining balance”. He estimates the amount of transaction at 5-6 million euros.
As had been reported earlier, Barvinok network has changed owners several times the last eight years.
In 2008 the Intermarket Lviv company sold a network of 17 shops to the Polish investment fund Abris Capital.

Abris Capital has sold the retail company asset Eurotek of Mikhail Veselsky who, according to the experts, has  paid for it at least 10-12 million euros at the end of last year. According to GT Partners Ukraine research company, Eurotek has managed six food networks of different formats: Barvinok (27), “Fresh” (9), Arsen (9), “Quarter” (26), “Souz” (13) and “Gurtivnya in Lviv” (1) for the end of the third quarter. GT Partners Ukraine estimates that the share of the Eurotek company in the market of a food retail has constituted 0,7% for the end of 2015.

Representatives of ATB had declared earlier about their intention to develop the network in the western region of the country. The retailer opened the first three shops in Drogobyche, Stryi and Lviv in autumn. The transaction will allow ATB to strengthen the line items.
The retailer has managed a network from 791 shops for the end of the third quarter.Its share of the Ukrainian market of food retail has reached 9,8% in 2015. Following the results of 2015, the company has shown 46,7 billion UAH of revenue.

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