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Lenta IPJSC (LNTA;LENT)
Press Release | St. Petersburg | 27 April 2022
Lenta Announces Board Decision
St. Petersburg, Russia, 27 April 2022: Lenta IPJSC (LSE: LNTA, MOEX: LENT), one of the largest multi-format retail chains in Russia, today announces the resolution of the Board of Directors taken at the meeting held on 25 April 2022.
The Board of Directors of Lenta IPJSC has resolved amongst other things:
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Lenta IPJSC (LSE: LNTA, MOEX: LENT) is a leading Russian multi-format food and FMCG retailer. The company operates hypermarkets, supermarkets, and recently launched a new proximity store format under the brand "Mini Lenta." It also provides customers the option to shop online via its click-and-collect and express delivery services. Lenta is Russia's largest hypermarket operator and the fourth largest food retailer overall by Sales. The company was founded in 1993 in St. Petersburg and as of December 31, 2021, operated 254 hypermarkets and 541 supermarkets and convenience stores in over 200 cities and towns across Russia with more than 1.77 million square meters of Selling Space. The average Lenta hypermarket has approximately 5,500 square meters of selling space, the average Lenta supermarket has 800 square meters, and the Mini Lenta format is 500 meters on average. The company operates 14 distribution centers to supply all of its stores. 2021 Revenues were RUB 484 billion (approximately USD 6.5 billion).
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