STAR acquires Fresh supermarket chain

PanARMENIAN.Net - The negotiations on purchasing “Fresh” supermarkets by STAR trade chain are over. The parties have already finalized the agreement. Before the legal implementation, the agreement needs to be confirmed by the State Commission for the Protection of Economic Competition of the Republic of Armenia.

“Purchase of “Fresh” supermarkets will enable the increase of STAR sales volume as well as reduction of logistic, distribution and administrative expenses thus boosting work efficiency, through cutting the expenses by 15-20% in the united trade chain,” the executive director of STAR trade chain Vahan Kerobyan said.

Legal implementation is expected to be completed within 1 month to be immediately followed by strategic program development. In the nearest future, the company will hold a news conference to announce transaction details and the further development plans of the company, STAR press service reported.

At present, STAR trade chain operates 18 supermarkets, 17 in Yerevan and one in the town of Hrazdan; “Fresh” supermarkets chain operates 4 supermarkets under “Fresh” brand and 3 stores under “Catherine” brand in Yerevan. STAR plans on opening a new store in Davtashen administrative district.