BGV Group Management announced that VARUS had completed the acquisition of the KOLO convenience store chain on August 4 with the deal covering 100 percent of the corporate rights in Aritail LLC the entity that operates the outlets. The transaction brings together VARUS’s 120 supermarkets which the company established in 2003 with KOLO’s 254 stores that have traded since 2017 and generated annual turnover of roughly UAH 4 billion while serving more than 70 000 customers daily. The combined workforce exceeds 9 000 people and the new network will maintain existing operations while focusing on integration measures that comply with applicable legislation.
KOLO which BGV Group Management described as one of Ukraine’s largest convenience retail operators will contribute its format expertise to VARUS’s established strengths in procurement marketing information technology and loyalty programs. The announcement from the seller highlighted that the merger will enhance logistics assortment development and digital capabilities across all sites without immediate changes to store formats or staff. Emphasis has been placed on supporting employees and customers through the transition period that follows the simultaneous signing and closing.
Ukraine’s retail sector recorded sales of $54.2 billion in 2024 after expanding 13 percent from the prior year a United States Department of Agriculture report on retail foods showed. Less than half of the overall market is controlled by chain operators according to data cited in a U.S. Trade and Development Agency guide leaving room for further consolidation in formats such as supermarkets and convenience stores. The VARUS-KOLO combination adds scale in a recovering economy where consumer demand for accessible retail has driven segment growth.
Baker McKenzie advised VARUS on the transaction including preparation of a memorandum of cooperation and all documentation through to closing the law firm stated in its own release. The Baker McKenzie team was led by counsel Alyona Bon under the supervision of partner Viacheslav Yakymchuk with key contributions from associate Oleksandr Savvi and support from associate Yuliia Seredynska. Maryna Panina CFO of VARUS said “In complex M&A transactions it is particularly important for us to work with legal counsel that not only has a strong command of the legal aspects of a deal but also understands its underlying business rationale and helps identify practical solutions that keep the transaction moving forward.”
The VARUS statement carried in the BGV Group Management announcement indicated that the acquisition advances the buyer’s market expansion by combining complementary capabilities while preserving KOLO’s established presence. Denys Zdorenko who serves as KOLO CEO was quoted in the seller’s release praising the alignment of the two businesses and the opportunities for further development in the convenience segment. Oleksandr Bulhakov communications director at VARUS added that the deal creates a platform for improved efficiency and customer offerings across the enlarged footprint.
Earlier filings with the Anti-Monopoly Committee of Ukraine had cleared the path for the transaction which industry reports positioned among the larger retail deals completed in the country during 2026. The combined entity will operate under both brands initially with integration focused on backend systems and supply chain optimisation the companies indicated. Public data from sector trackers show convenience retailers continued to post value growth in Ukraine through 2024 providing a favourable backdrop for the newly formed network.
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