RDIF and Metro Cash & Carry invest in development of FASOL franchise

Press release, 06.12.2019

RDIF and Metro Cash & Carry invest in development of FASOL franchise

Moscow, December 6, 2019 - The Russian Direct Investment Fund (RDIF, Russia’s sovereign wealth fund), the leading sovereign wealth funds from the Middle East and the leading German wholesale-retailer METRO Cash & Carry announce the creation of a joint venture aimed at further development of FASOL franchise. 

The joint venture will focus on financing independent entrepreneurs aiming atopening small and medium retail enterprises. Over 300 retail outlets are expected to open at first stage of JV activities with a possibility of additional financing in the future. 

FASOL franchise allows entrepreneurs to get attractive terms for opening a retail outlet, a reliable partnership and preserve the independence of business ownership.

Kirill Dmitriev, CEO of the Russian Direct Investment Fund (RDIF), said:

“The creation of a joint venture as part of FASOL franchise development is aimed, inter alia, at reaching the goals set out in Russia’s national project “Small and medium-sized businesses and support for individual entrepreneurs”. FASOL is focused on the modernization of concepts of trade as well as on providing entrepreneurs with more favorable conditions compared to traditional financial instruments. We look forward to the active expansion of the franchise with the creation of more than 1.5 thousand jobs in the future”. 

Martin Schumacher, CEO of METRO Cash & Carry Russia, said:

“Being a support program for independent businesses Fasol is attracting increasing interest whereas it is based on the principles of sustainable development. It was founded as a reliable platform for small businesses, preserves the freedom of entrepreneurship, and contributes to the development of local infrastructure. METRO's collaboration with partners such as RDIF allows us to talk about enhancing the range of capabilities. The project is fully aligned with the company's mission, the interests of small business and community.”

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Russian Direct Investment Fund (RDIF) is Russia's sovereign wealth fund established in 2011 to make equity co-investments, primarily in Russia, alongside reputable international financial and strategic investors. RDIF acts as a catalyst for direct investment in the Russian economy. RDIF’s management company is based in Moscow. Currently, RDIF has experience of the successful joint implementation of more than 70 projects with foreign partners totaling more than RUB1.5 tn and covering 95% of the regions of the Russian Federation. RDIF’s portfolio of companies employs more than 800,000 people and generates revenues which equate to over 6% of Russia’s GDP. RDIF has established joint strategic partnerships with leading international co-investors from more than 15 countries that total more than $40 bn. Further information can be found at www.rdif.ru

METROis a leading international specialist in wholesale and food retail. The company operates in 35 countries and employs more than 150,000 people worldwide. The company provides custom solutions to meet the regional and international needs of its wholesale and retail customers. With its sales brands METRO/MAKRO Cash & Carry and Real as well as delivery services and digitalisation initiatives METRO sets the standards for tomorrow: for customer focus, digital solutions and sustainable business models. Further information can be found at www.metro-cc.ru.

The FASOLfranchise is a support program of the international company METRO for small and medium-sized businesses. It helps entrepreneurs to open and efficiently run a grocery store from scratch or to convert existing stores to competitive retail businesses. In Russia, the franchise was launched as a attest-run in 2014, and from 2017, it started work in a fully operational mode. FASOL provides friendly entry conditions, a large choice of formats and an individual approach to every partner. Having exceeded 1360 stores, the project is developing in all cities of METRO presence in Russia.

For additional information contact:

Arseniy Palagin                                     Maria Shiryaevskaya / Andrew Leach

Russian Direct Investment Fund              Hudson Sandler

Press Secretary                                        Tel: +44 (0) 20 7796 4133 

Tel: +7 495 644 34 14, ext. 2395

Mobile: +7 916 110 31 41

E-mail: arseniy.palagin@rdif.ru