ALRUD advised TJX, the leading off-price apparel and home fashions retailer in the US and worldwide, on the US$225m acquisition of a 25% stake in the Russian chain Familia. This was the first major M&A deal for a Western company in Russia since the US and EU imposed sanctions against Moscow in 2014.
This investment allows TJX to develop on the Russian market, which has significant potential for further growth. It should be noted that Familia is a rapidly growing and consistently profitable retail company that sells clothes and home fashion at discount prices, has more than 275 stores in 90 cities of Russia, and offers a wide range of women’s and men’s clothing, footwear, accessories, and household goods. This cooperation will enable Familia to pursue an ambitious growth strategy and take Familia to the next level.
This deal marks the second major foreign investment in the Russian retail market in recent times.
The ALRUD team that worked on the project under the leadership of Alexander Zharskiy (Partner and Head of Corporate and M&A Practice) included representatives of the Corporate Practice: Counsel Oleg Ezhov, Associate Irina Kuyantseva, Associate Dina Kravchenko, and Associate Kristina Akalovich.