Announcing its withdrawal from Russia a year ago, German retailer Otto sold all its assets in the country – two warehouse complexes in the Tver region. The buyer was the operator of the multi-temperature tanks Multicold, writer The newspaper Kommersant citing several sources.
Multicold confirmed the authenticity of the deal to Kommersant, but did not disclose details. Otto did not respond to a request. According to experts interviewed by the newspaper, the deal could amount to 2.23 billion rubles. However, they did not ignore that Multicold can purchase warehouse complexes with 50% discount.
Part of the area – 7 thousand square meters. m in one of the complexes – the new owner has already managed to deliver the Ozone market. They confirmed this information to the newspaper. The income from the rental of the remaining space, which was previously owned by Otto, was estimated by experts at 322 million rubles.
German online retailer Otto Group has been operating in Russia since 1990. The company has developed a number of brands – Otto, Quelle Russia and Bonprix. Otto Group closed its Otto and Quelle stores in 2018, partially restricting its activities in Russia. And in 2022, the company completely left the Russian market.
Multicold is owned by Russian developer RAM Group, which has been building and renting warehouses since 2011. The operator is developing a network of multi-temperature distribution centers that provide refrigerated warehouse space.