Sanoma to Sell its Press Distribution and Kiosk Operations in Russia
The Sanoma Trade division of the Sanoma Group will sell its press distribution and kiosk operations in the Moscow area to Everest Distribution. The transaction includes all shares of R-kiosk, HDS CIS, TK Pressexpo as well as of Press Point International. The deal is subject to approval by the competition authorities.
"The Russian market proved to be challenging. We will now focus on developing our kiosk and bookstore concepts as well as our trade services with the main emphasis in Finland, the Baltic countries and Romania. The new R-kiosk concept in Finland has received very good feedback from customers, and we will roll out the concept further in the coming years. We are also in a process of executing a profound change in our trade services: from being just a single-copy distributor to helping retailers with different areas of marketing, as well as promoting press and other products," says Timo Mänty, President and CEO of Sanoma Trade.The deal includes 13 kiosks and the press distribution business in the Moscow area. In 2009, these operations employed some 300 people.
On 26 August 2010, Sanoma Trade agreed to sell the kiosk company KP Roznitsa with 72 kiosks in the Rostov region to OAO Rospechat Agency. This deal is subject to approval by the Russian competition authorities.
Following these transactions Sanoma Trade no longer operates in Russia.
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