Supermarket chain Varus, owned by entrepreneurs Ruslan Shostak and Valerii Kiptik, has completed the acquisition of Kolo, a convenience store chain previously owned by Hennadii Butkevych’s BGV Group Management. The parties signed the final agreement on August 4, according to the company.
Following completion of the transaction, the combined network will operate 374 retail locations, with a total workforce of more than 9,000 employees. Under the deal, Varus acquires 254 Kolo stores located in Kyiv, Kyiv Region, Odesa and Odesa Region. The acquired network has a combined retail area of more than 17,000 sq m.
During the initial stage of integration, Kolo stores will continue operating under the existing brand and in their current format. The companies subsequently plan to gradually integrate logistics infrastructure, procurement operations, product assortments, digital services and loyalty programs.
Varus said it intends to leverage Kolo’s experience in developing the convenience store format while strengthening the network through its own expertise in procurement, marketing, information technology and operational management.
The acquisition process began in June. Omega LLC, the management company of the Varus chain, submitted an application to the Antimonopoly Committee of Ukraine for approval to acquire control over A-Retail LLC, the operator of the Kolo chain, on June 4, 2026. On July 16, the AMCU approved the concentration involving 100% of the company’s corporate rights, allowing the parties to complete the transaction.
Varus has operated in the Ukrainian market since 2003 and, prior to the acquisition of Kolo, comprised 120 supermarkets, Varus To Go stores and the Varus.ua online platform. The ultimate beneficial owners of Omega LLC are Ruslan Shostak and Valerii Kiptik.
According to YouControl, the company’s revenue increased by 20% in 2025 to UAH 24.1 billion, while net profit rose by 17.8% to UAH 41.4 million. In the first quarter of 2026, Varus generated UAH 6.6 billion in revenue, up 21% year-on-year, with net profit of UAH 1.2 million.
The Kolo chain was founded in 2017 and, prior to the sale, was owned by Hennadii Butkevych’s investment group BGV Group Management. In 2025, the chain’s operator, A-Retail LLC, increased revenue by 23.3% to nearly UAH 3.3 billion, but ended the year with a net loss of UAH 125 million. In the first quarter of 2026, the company’s revenue rose by a further 19.3% to UAH 715.8 million, while its net loss amounted to UAH 42.8 million.
The transaction became one of the largest deals in Ukraine’s grocery retail market in 2026 and reflects the continued consolidation of the convenience store segment. Earlier, in June, Fora, part of Volodymyr Kostelman’s Fozzy Group, acquired the Badyoryi chain, adding around 180 stores in Kyiv and Kyiv Region to its network. Ukraine’s largest retailers are therefore actively strengthening their positions in the fast-growing neighborhood convenience store format through M&A transactions.
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