Owner of Leroy Merlin will hand over its Russian business to the management team

ADEO (France), owner of the DIY franchise Leroy Merlin, intends to hand over the governance of the Russian company to the local management team, as reported by RBC referencing a company representative. The RBC’s source emphasizes that this change won’t affect the business in terms of either relations with partners and clients or employees’ work: all jobs will be preserved, and the company will continue business as usual.

The Russian chain of Leroy Merlin hypermarkets includes 111 stores in 65 cities. Based on the 2022 performance, it is in the top 10 largest retailers in the country, according to an assessment by NFOLine-Analytics. In 2022, the chain’s revenue increased by 15% YoY, reaching 529.7 billion rubles.

After the business is transferred to the Russian management team, the chain may change its name in Russia.