World distance sales leader Otto Group has acquired a 90% stake in NA DOM Group and PROMOPOST from their present owners Direct Group, the leader in Market Expansion Services in Russia. The aim of the deal is to expand Otto Group’s business on the Russian market and development of the biggest distance selling project in the Household Goods segment.
Cooperation between Direct Group and Otto Group started in November 2006 with the establishment of the DIRECT CATALOGUE SERVICE & Business Service joint venture. In May 2008, the JV opened a new modern logistics complex in Tver. “This acquisition falls in line with Otto Group’s strategy to consequently invest in attractive growth markets,” Otto Group CEO Hans-Otto Schrader said.
From his side, Direct Group CEO Pascal Clement said the deal was line with his company’s mission to provide Market Expansion services in Russia. “We specialize in identifying new business opportunities, rapid launch and further comprehensive support of the projects up to their maturity. This deal will enable Otto Group to leave all the competitors behind and become the absolute leader in distance selling and e-commerce in Russia.”
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