Kopeika (Russian: Копейка, romanized: Kopeyka, lit. ' kopek') 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
- ^ "Yukos Sells Its 50.5% of Kopeika". 2003-10-06. Archived from the original on 2007-10-24. Retrieved 2007-12-31.
- ^ "Moscow Times - Yukos take over". 2002-01-21. Retrieved 2007-12-31.[ permanent dead link]
- ^ "RUSSIA: NIKOIL PICKS UP KOPEIKA". Archived from the original on 2006-03-15. Retrieved 2007-12-31.
- ^ "Reuteurs -Seventh Continent, X5 Bid for Russian Kopeika". 2006-12-05. Retrieved 2007-12-31. [ dead link]
- ^ "ВЕДОМОСТИ - Цветков продал «Копейку»". Archived from the original on 2014-02-22. Retrieved 2014-02-14.
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^
"Archived copy" (PDF).
Archived (PDF) from the original on 2013-04-02. Retrieved 2014-02-14.
{{ cite web}}: CS1 maint: archived copy as title ( link)
External links
- Kopeika English website
- Property Magazine International - X5 Retail Group completes acquisition of Kopeyka discounter
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