The co-founder of the supermarket chains that became X5 Retail Group is setting up 400 discount groceries in southern Florida, a project in which his company AgroTrade International will invest $500 million.
Andrei Rogachyov, who started the Karusel and Pyatyorochka chains, is planning to open the stores through AgroTrade America. In a job advertisement posted on recruitment website Monster.com, AgroTrade America wrote that "a private Dutch investment fund is launching a $500 million retailing project bringing in cash earnings from its previous investments in grocery distribution in Europe."
The ad says "the project is managed by the same group of young and savvy executives who successfully developed two national retailers in Eastern Europe for the investor."
AgroTrade America executives include Igor Vidyayev, a Pyatyorochka co-founder, RBK Daily reported.
To read the rest of the story, please go to: The Moscow Times
