Retail chain Kolo may be sold to the OKKO

Retail chain Kolo may be sold to the OKKO

The deal is estimated at $15-20 million

Forbes Ukraine reports that the Kolo chain, which includes more than 250 convenience stores, is planning to sell and is already negotiating with the OKKO gas station chain.

Three sources provided information about a potential agreement on condition of anonymity to Forbes: a top manager of a commercial real estate company and two top managers of a consulting and investment company.

According to the top manager of the investment company, negotiations began in early summer and now should already be at the final stage. Most likely, we are talking about the sale of the entire business.

The contender for the purchase of the asset is the OKKO gas station of businessman Vitaly Antonov, whose fortune was estimated by Forbes Ukraine in 2021 at $ 385 million. Its network includes 415 gas stations.

The co-founder of Kolo Sergei Voitsekhovsky neither confirmed nor denied the negotiations.

According to SPARK-Interfax, the Kolo chain, founded in 2017, is being developed by Ariteil LLC, 90% of which is owned by Magnitar Joint Stock Company, 10% - by the Cypriot B. V. Eternity Holdings Limited.

Kolo's revenue in 2020, according to SPARK-Interfax, reached UAH 1.2 billion, loss - UAH 82.7 million. The chain operates in a "convenience store" format, of which there were 1 072 in the market in June 2021, according to GT Partners. In more than four years, Kolo has expanded to 252 stores (data as of June 2021). It crossed the mark of 100 stores in 2019, the 200th market opened in October 2020.

The OKKO Group is considering various development options, including retail. "But it is too early to say clearly what this development path will look like and with which of the well-known domestic or international brands it will be associated", said the press service of the company.

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