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Advance Capital announces completion of the merger between two leading monobrand Nike chains in Russia – A3 Retail Group and Inventive Retail Group
Advance Capital is pleased to announce completion of the merger between two Nike retail chains owned by A3 Retail Group and Inventive Retail Group (IRG).
This transaction would allow significantly increasing operational efficiency of the merged business by implementing a number of synergies.
Advance Capital acted as exclusive financial advisor to the shareholders of A3 Retail Group.
Deal value is not disclosed.
Aram Davtyan, Founder & CEO of A3 Retail Group:
«This merger with IRG is a logical step in A3 Retail Group's successful 13-year development history. I am happy that we are entering a new stage of development by mergingtwo such wonderful companies and I am sure that we’re destined to succeed».
Tikhon Smykov, CEO of Inventive Retail Group:
«Market segment of sporting goods faced the hardest challenges during the pandemic, but I am convinced that it does not change the prospects for the development of the Russian market for sporting goods. Therefore, we are happy to invest in this segment. Nike is one of top-priority partners for our group, we share the approach and values of this company, and plan on further productive cooperation».
Maxim Uryash, partner of Advance Capital:
«Merger of these two successful retail chains is an important step towards developing one of the largest and most efficient companies in the Russian sportswear market. And despite the pandemic, this transaction has undoubtedly become a landmark deal in the Russian fashion segment this year. We are pleased to be a part of it and to help shareholders of A3 Retail Group in its successful completion».
Information on A3 Retail Group:
A3 Retail Group is a fast-growing company with a portfolio of brands such as Nike, VANS, The North Face, and STRIDE. It owns 34 stores in Moscow, St. Petersburg, Rostov-on-Don, Krasnodar, Sochi, Nizhny Novgorod, and Yekaterinburg.
Information on Inventive Retail Group:
Inventive Retail Group is a retail group, which combines chains of specialized stores selling products from the leading manufacturers of digital electronics, products for children and sporting goods. Today, the core of the Inventive Retail Group is made up of world-renowned brands: Apple, Samsung, Sony, LEGO, and Nike. Part of the Lanit group of companies.
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