MIAMI — A Russia-based retailer with backing from Dutch investors is seeking to build a chain of small retail food stores in South Florida.
AgroTrade International, based here, is seeking retail sites and hiring workers for a chain it said could have 400 stores and $1 billion in sales within four years, according to various job postings by the group. The launch is backed by a $500 million investment from the private Dutch investment fund that launched Russia’s X5 Retail Group, including the discount chain Pyaterochka and the Karusel chain of hypermarkets.
Andrei Rogachyov, who founded those chains and remains an investor in X5, is separately heading AgroTrade International, according to a report in the Moscow Times newspaper.
“A private Dutch investment fund is launching a $500 million retailing project bringing in cash earnings from its previous investments in grocery distribution in Europe,” an ad seeking category managers posted at several job sites this week read. “The project is managed by the same group of young and savvy executives who successfully developed two national retailers in Eastern Europe for the investor.”
AgroTrade is currently seeking to lease sites of between 4,200 square feet and 7,500 square feet in the Miami area, according to its website. It was not immediately clear what name would go on the stores or how soon they would open, although the Moscow Times reported the chain could open 60 stores this year.
According to the company website, AgroTrade operates stores with an EDLP format and guaranteed quality goods.
“AgroTrade International creates retail chains with significant social impact on [the] everyday life of the average consumer,” its website said. “The distribution companies we design and develop provide massive household markets with affordable quality foods and beverages for daily consumption. This has direct impact on the quality of life and well-being of [an] immense number of people.
Company officials were not immediately available for further comment.