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Kesko's first food store opened in St. Petersburg


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Copyright © Thomson Reuters 2012. All rights reserved.
2012-12-05 11:09:56 -

KESKO FOOD LTD PRESS RELEASE 05.12.2012 AT 12.00 1(2)

Kesko Food opened its first food store in St. Petersburg, Russia, today. Kesko
Food aims to open four large food stores in the St. Petersburg region by the end
of 2013 and continue expanding in the St. Petersburg region and later also in
the Moscow region. The aim is to achieve net sales of €500 million and a
positive result by the year 2017. Kesko has also 14 K-rauta stores and 31
Intersport stores in Russia.

According to Kesko Food's President Terho Kalliokoski, the initiation of
business operations in Russia has proceeded as planned. The brand in food
retailing is K-Pyoka (K-Ruoka), which indicates high-quality food and wide
selections. "Many people in St. Petersburg are familiar with the K-symbol, which
stands for 
Finnish origins and quality. In connection with the opening, we are launching the K-plus loyalty card, which will also provide customers with benefits from K-rauta stores and Intersport stores in Russia." "The store focuses on high-quality fruit and vegetables, bread and extensive service counters for meat, fish and prepared foods, plus an in-store scratch bakery. Daily shopping is also easier thanks to a wide range of beauty care items, children's clothing and toys," says Oleg Buyalski, General Director of Kesko Food Rus. General Director Oleg Buyalski joined Kesko in 2011 after having held various managerial positions in two of the largest hypermarket chains in Russia - Lenta and the French-owned Auchan - for over 10 years and having been employed before by international suppliers operating in Russia. Other members of the Management Board also have wide experience of working for large retail companies operating in Russia, such as O'Key, IKEA and Auchan. The first K-Ruoka is located in Primorski, a fast-growing district of over 400,000 inhabitants, at Planernaya Ulitsa 17. The store has good connections and is close to built-up areas. According to Buyalski, store location is of great importance in Russia, too. The store with sales area of about 5,000 m2 operates in a property owned by Kesko, where customers are also served by a cafe, a pharmacy (Yliopiston Apteekki), a florist and four other firms. There is a car park with more than 400 spaces on the site. Kesko is gaining synergy benefits when doing business through several chains in Russia. According to Kari Heiskanen, Kesko's Vice President responsible for store site operations in Russia and Kesko Food's Country Director for Russia, the fact that Kesko has several store chains in Russia allows resources to be centralised and efficiency of operations for example when acquiring and building store sites. The store's web pages are available at www.k-ruoka.ru. Photos can be downloaded at aineistopankki.kesko.fi/kesko_en. Further information: President Terho Kalliokoski, Kesko Food Ltd, tel. +358 10 53 22204 Kesko (www.kesko.fi) is a highly valued listed trading sector company. It manages retail store chains that are valued by customers and efficiently produces services for retail store chains' purchasing, logistics, network development and data management. Kesko's operations include the food, home and speciality goods, building and home improvement, and car and machine trades. Its division parent companies and chains act in close cooperation with retailer entrepreneurs and other partners. Kesko has about 2,000 stores engaged in chain operations in Finland, Sweden, Norway, Estonia, Latvia, Lithuania, Russia and Belarus. Kesko and K-retailers form the K-Group, whose retail sales totalled €12 billion (VAT 0%) in 2011. The K-Group employs around 45,000 people. Besides Finland, Kesko also seeks growth in the Russian market, in particular, which is growing faster than the Nordic and Baltic markets. In addition to the first K-Ruoka store, Kesko has 14 K-rauta stores and 31 Intersport stores in Russia. Konekesko markets construction, materials handling and environmental machinery in St. Petersburg through its own dealer network. This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients. The owner of this announcement warrants that: (i) the releases contained herein are protected by copyright and other applicable laws; and (ii) they are solely responsible for the content, accuracy and originality of the information contained therein. Source: Kesko Oyj via Thomson Reuters ONE [HUG#1662728]


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