Tapes Network of retail
Northwestern Federal District of the Russian Federation
Central Federal District of the Russian Federation
Shvets Dmitry Vladimirovich
Severgroup - 78.73%
For 2017 in company assets:
- 271 shops in 79 cities
- 7 own distribution centers
- 1.2 million square meters of the floor space
Information technologies in Tape
Threat of poisoning of products. Demand $0.5 million in bitcoins from network
On August 13, 2019 it became known that Tape received threats of poisoning of products in hypermarkets. Blackmailers demand from the retailer $500 thousand in bitcoins.
According to Fontanka, the video message with threat arrived on e-mail of call center of Tape on August 12, 2019. Anonymous authors attached the e-mail address to which suggested to transfer money, Otherwise they threaten to poison the products which are on sale in shops of network. The company does not intend to fulfill the requirements.
| ||We received a video with threats from unknown persons who demanded from us a certain amount of money, threatening to poison differently goods. Now we contacted police — announced RBC in the press service Films.|| |
The police in turn brought criminal case according to Article 207 of the Criminal Code of the Russian Federation (obviously untrue report on the act of terrorism on an object of social infrastructure). The press service of the Ministry of Internal Affairs in St. Petersburg and the Leningrad Region reported that received the address from commercial structure and already started conducting investigation.
It is not the first attempt of blackmail of large retail network. At the end of 2005 in St. Petersburg unknown demanded $200 thousand from the management of Maxidom supermarket chain, and after failure sprayed in one of shops of network gas mercaptan therefore more than 70 people suffered. Law enforcement agencies then considered the incident hooliganism.
Cases of intended damage of products occurred earlier and abroad. So, at the end of 2018 the police of the Australian State of Queensland delayed the woman who stuck sewing needles in the strawberry deliverable at shops through the whole country.
Severgroup brought the share in Tape to 78.73%
On June 4, 2019 it became known that Severgroup LLC of Alexey Mordashov according to the results of the offer on purchase of shares of minority shareholders of retail chain stores Tape received 78.73% in the retailer.
| ||Till 1 p.m. (on the London time) on June 4, 2019 Severgroup obtained valid acceptances within the offer concerning securities of Lenta Ltd which in total with other securities of Lenta Ltd which are owned by Severgroup (including the GDR on the shares of Tape acquired at TPG and EBRD), in total represent about 78.73% of voting rights in Tape, says Severgroup.|| |
At the beginning of April Alexey Mordashov's company signed agreements with Luna Inc. (it is under control of the American TPG Group) and the EBRD about purchase about 41.9% of the stocks "Films". In total the transaction cost $729 million. The head of department of transactions in the Russian stock market of IK "Fried a finance" Georgy Vashchenko said that Severgroup would like to receive control in Tape therefore he within the offer can redeem additional shares. To the middle of May the share of Severgroup in Tape exceeded 50%.
2015: Retail network No. 5 by revenue size in Russia
"Tape" – the first in size of floor spaces network of hypermarkets in Russia and the fifth among the largest retail networks of the country by revenue size for 2015. The company was founded in 1993 in St. Petersburg. "Tape" manages 142 hypermarkets in 70 cities across all Russia and 38 supermarkets in Moscow and St. Petersburg with the total floor space about 896,068 sq.m. The average floor space of one hypermarket "Lenta" makes about 6,100 sq.m, the average area of supermarket – 1,000 sq.m. The company operates with six own distribution centers for hypermarkets. The company develops several formats of hypermarkets with low prices which differ in marketing and price policy and also the range of goods of local producers. As of December 31, 2015 the staff of the Company made about 38,414 people.
2011: Meyer sells the packet
37 hypermarkets in 18 cities with revenue of 55 billion rub
For 2010 at the company of 37 hypermarkets in 18 cities which in 2009 provided 55 billion rubles of revenue.
The second conflict of founders
Shouts, the broken glass doors, security guards are started up in a fight … It is not dismantling of the middle of the 1990th — the action takes place in St. Petersburg in September, 2010. Two solid foreign companies, the main owners of network of Lenta hypermarkets, were not in accord on corporate procedures, and now one group storms office to expel from there competitors.
In defense the foreigner Augustus Meyer (41% of stocks), his partner Dmitry Kostygin (1% of stocks) and now the former CEO of network Sergey Yushchenko play. In attack — Luna Holdings company which has 30.7% of the stocks "Films". It, in turn, belongs to large American fund TPG and VTB Capital, child structure of VTB. Luna enjoys support of a number of minority shareholders, including the European Bank for Reconstruction and Development (EBRD).
That September day the victory remained for Luna Holdings — its PSF managed to occupy office "Lenty", to expel from there from Yushchenko and to put in a chair of the CEO of the person — Dutch Jan Dyunninga behind whose shoulders of INSEAD, 10 years of work in the European discount chain Aldi and a five-year experience in Russia. After that fight war passed into a "cold" phase: the parties submitted against each other numerous claims in Russia, London and on the British Virgin Islands where Lenta Ltd., the head company of holding is registered. Opposition of two groups of shareholders continues.
Meyer and Kostygin say now that they were the victims of "oligarchical fund". TPG Capital really manages the enormous capital — $47 billion. The head office TPG is in the city of Fort Worth, in the State of Texas, and the aggressive style of the company gave a reason to remember the American saying more than once "Do not contact Texans". And though the Time magazine called the founder of TPG David Bonderman and his partners by "impudent predators", it is difficult for them to refuse success — restructuring of the problem companies not too interesting to other investors brings income in seven, and even is ten times more than invested funds.
However the last what any investment fund is interested in, is the joint-stock conflict. A task of investors — as fast as possible to increase capitalization of acquired company. For this reason TPG in the conflict with Meyer maintains most of shareholders, including the EBRD.
That the Board of Directors more than half a year was paralyzed the network opened in 2010 only one shop, for the first time on leased squares. Nevertheless from January to October, 2010 sales of Tape grew by 22%, EBITDA — for 44%, and the debt load managed to be lowered by 40%. Business develops, the cost of the company grows.
2009: Zherebtsov sold 35% of Tape of TPG and VTB Capital
In October, 2009 Zherebtsov sold 35% of Tape to consortium of TPG and VTB Capital investment funds of all for $110 million, after payment of all debts it had only a quarter of this money. The transaction was difficult, negotiations dragged on for several months — Zherebtsov and Meyer at that time already did not talk with each other at all, and investors had to communicate with everyone. (Zherebtsov refused to give Forbes interview for this article. "I am engaged in business little, I travel more, I rise to mountains" — the founder of Tape who managed to make for the last three years a round-the-world trip on the yacht reported and to open 17 Norma shops.)
It would seem, Meyer received that he wanted: the American investment fund became the major shareholder of Tape. However in April, 2010 the relations between new partners began to be heated. According to conditions of the October transaction Meyer redeemed from TPG a small part from Zherebtsov's packet, but in time he did not receive this share. In May TPG and VTB Capital unexpectedly blocked receiving by Tape the credit of €200 million.
"I consider, they purposely interfere with work of Tape — Meyer is indignant. — What for? Ask them". According to Meyer who spends the most part of time now on the Virgin Islands where there are courts, new shareholders want to receive full control over Tape though in the agreement with them it is seemingly written about shared control. "I demand only performance of agreements, and I will not stop, I will go and go forward as Terminator" — raises the voice Meyer.
According to the mentioned shareholders' agreement between Meyer and TPG, Meyer had the right to return to the place of the CEO Sergey Yushchenko, however only from approval of Board of Directors of the company and only till August 31, 2010. At the end of May council took place, but representatives of new owners left it ahead of schedule and did not append the signature under the solution that did not prevent Meyer and Kostygin to announce council taken place and on this basis to expel from Jan Dyunninga from office "Lenty". Their triumph was short.
2007: Value assessment of the company in $2 billion
Before crisis of 2008 of assessment of Tape exceeded $2 billion, and investors queued to receive a share in the company.
2006: The first quarrel
For the time being the founder of Tape Zherebtsov perfectly managed to drive. "He is a born retailer — one of market participants tells. — Comes into shop and at once sees what needs to be made for increase in sales: as there is a flow of visitors where to change lighting, where to put other side apples. And here with corporate management at it not really". Zherebtsov in an interview to Oleg Tinkov (for the program on the website Russia.ru) was recognized: "We did not think that we will create and sell the companies — were going to have money from operational means".
In 2006 Zherebtsov walked at Meyer's wedding, and in several months partners quarreled. Started missing from routine business processes of Stallions started from scratch the personal project — network of small shops "Norma" that, however, did not contradict the charter of Tape. It was not pleasant to Meyer. In December, 2006 instead of Zherebtsov the retail network was headed by the financial director of Tape Sergey Yushchenko.
At that time the company was going to issue additional stocks and to sell 15% at the exchange, however at once several large investment funds told that they are ready to purchase a share in perspective network and without the IPO. Meyer supported the idea of sale of a packet to the western funds completely, Stallions was against and suggested to redeem shares. "He was afraid that its share will be blurred and he will lose control in Board of Directors" — Kostygin considers. Now Meyer and Kostygin refused: they considered that Zherebtsov just has no means necessary for the redemption of a packet.
In May, 2007 11% of shares for $125 million were acquired by the EBRD.
And in January, 2008 the conflict erupted on new. Right after New Year's vacation of Stallions which devoted more and more time to the favourite hobby — yachting — decided to interfere with network management: he informed by e-mail of Sergey Yushchenko and several other colleagues Meyer that they are dismissed. Urgently there passed two Boards of Directors — in different structures; appointed to one Stallions the head of the company of the friend Vladimir Senkin, on another Meyer saved a position for Yushchenko. Lawsuits began.
By April, 2008, however, the conflict came to naught — the parties agreed about election of a compromise figure, Alexander Bobrov, the development director supervising construction of new shops. The economy of Russia then was on rise, stocks of retail networks grew in the price — was silly to argue when the chance profitable was provided to sell business. Meyer and Zherebtsov agreed to concede jointly the shares to one of potential investors — Carrefour, the Finnish Kesko and the Croatian Agrokor looked narrowly at Tape the American network Wal-Mart, French. Buyers offered the improbable price for Tape — estimates of $2 billion also were discussed above.
"We lacked literally few months to close the transaction" — Kostygin who could gain over $20 million for 1% is upset. In the fall the 2008th burst crisis, and negotiations stopped. From all co-owners of Tape Zherebtsov fell into the worst state. Crisis found the businessman at the height of the round-the-world regatta which developed for his Killer whale yacht unsuccessfully: at three stages Zherebtsov's team came the last, and to the port of St. Petersburg it was delivered in general on the tow. Actions of the founder of Tape were put in banks for financing of the personal Regulation project. The founder of Tape was faced by a tough choice — or to urgently find the buyer for actions, or they will be taken by banks.
2001: Stallions, Kostygin, Meyer
The St. Petersburg entrepreneur Oleg Zherebtsov who was engaged in trade since 1993 founded Tape. First he opened small wholesale warehouses normal for those times, by the end of the 1990th got supermarket, and in the 2001st decided to construct really large shop, the first in own way in the Northern Capital, but it did not have enough money for the project. The familiar entrepreneur Dmitry Kostygin brought together then Zherebtsov with recently arrived in Russia from Sshaavgust Meyer who readily purchased 49% of the company.
The new investor bought a share in absolutely small business — analysts estimated Tape of all at $20-30 million, but the money brought to them was enough also for completion of hypermarket, and for purchase of sections under opening of new outlets. "Tape" began to build on hypermarket in a year, and sometimes more. And Meyer was a convenient partner — presence of the non-resident shareholder helped to agree with the western banks and partners, and he did not interfere with operational management.
In Russia Meyer first was engaged in buying up and leasing of communal flats and even founded the small hotel chain called Rand House — in honor of the author of the best-seller "The Atlas Straightened Shoulders". Financial savings, however, allowed it to make something more large-scale. Here also Kostygin appeared in time.
The solution to translate and publish the book by Ayn Rand can be considered it the most successful project. Though the novel did not bring money to Kostygin, thanks to it he got acquainted with the millionaire Meyer. That just looked for an opportunity to immortalize memory of the native of St. Petersburg, having opened something like house museum, and at the American Institute of Ayn Rand it was given contacts of Kostygin, the local admirer. They made friends at once, despite an age difference. Having brought together the American with Stallion and having organized the transaction, Kostygin in an award for services received, according to Forbes, 5% of stocks of network which he partially sold out afterwards, having gained about $20 million.
Meyer likes to repeat that he in business and digits understands little. He invested money and quietly observed nearly six years how its share rises in price, turning from tens of millions of dollars into hundreds.