CHICAGO — IGA here said yesterday it has signed an agreement to expand into Russia later this year. The agreement is with Megapolis Trading Co., an established consumer goods distributor in Russia, which will have the right to license independent Russian retailers under the IGA banner and have exclusive distribution rights to those retailers. Megapolis is a division of the Mercury Group, a Moscow-based holding company with four main divisions: distribution and logistics; retail; heavy industry, manufacuring and mining; and property development. According to Igor Kesaev, Mercury Group president, "This new partnership [with] IGA provides tremendous synergies and opportunities for both parties for the development of independent retailing in Russia. Ultimately, Russian consumers will be the real beneficiaries through the consistent availability of a wider variety of world-famous brands." Thomas Haggai, IGA Global chairman, said the introduction of IGA in Russia "is a way for the emerging middle class in Russia to benefit from a better supermarket experience." IGA Global licenses the IGA brand to approximately 4,400 stores in 44 countries.
Read More of Today's Headlines
