The Obi brand is history on the Russian market: All legal entities in Russia were “transferred to an investor without paying the purchase price,” the hardware store chain announced on Wednesday. Obi thus confirmed Russian media reports from Tuesday, but there was talk of a sale, not a sale of the branches without any purchase price. The name of the investor was not mentioned.
Obi has “taken the last step to finally leave the Russian market,” the chain announced in Wermelskirchen. All markets in Russia had already been closed in mid-March due to the Ukraine war, and now the Obi Group is “neither directly nor indirectly active in Russia” after the most recent transaction. The responsible authorities still have to approve the sale of the stores, and it is also subject to the condition that the brand will no longer be used in Russia in the future.
Obi is part of the Tengelmann Group and has 48,000 employees worldwide. According to its own statements, the hardware store chain recently operated 27 hardware stores in Russia.