Kesko wants to sell its Russian stores to Leroy Merlin

The Finnish Kesko group wants to relinquish its DIY store activities in Russia and is negotiating with the French chain Leroy Merlin on a sale of its Russian stores. According to an ad hoc announcement by Kesko, negotiations are underway but their outcome is still pending. If no agreement is reached, Kesko will continue its DIY store activities in Russia as before. Leroy Merlin is market leader in Russia with currently 75 locations. Kesko has 14 K-rauta stores in the country.