JV between Sberbank and Mail.ru Group to get control over Samokat express food delivery service

Apr 02, 2020

April 2, 2020, Moscow — The mobility and food-tech joint venture between Sberbank and Mail.ru Group has announced the signing of binding paperwork to invest in Samokat, an express service to deliver food and household products. The deal is expected to be closed in the first half of 2020 after the Federal Antimonopoly Service of Russia approves it. The stake of the joint venture in the service will stand at 75.6%.

The joint venture will gain control over Samokat by buying the shares of the project's financial investors. The founders and top managers of the service will remain co-owners of the company and retain their minority stakes.

Samokat is a service to deliver food and essential goods to your home in 15–30 minutes. Deliveries come from dark stores, i.e. warehouses which are intended to service orders placed with the mobile app only.

More than 2,500 different products are available with Samokat. These include well-known brands and the Samokat brand. In some categories, sales of the latter reach 50%.

Today the service operates 140 warehouses in Moscow and Saint Petersburg and delivers more than 600,000 orders a month. Delivery is completely free.

Samokat will be closely linked to Sberbank's ecosystem and Mail.ru Group. The company will be able to use the technological and operational products of the partners, as well as integrate with other businesses of the shared platform. The service already works with Delivery Club, providing for the delivery of products and necessary household items to users.

Lev Khasis, First Deputy Chairman of the Executive Board, Sberbank,

“Food and essential goods delivery is one of the fastest-growing e-commerce areas. Samokat is already a dark store market leader, and we believe in the prospects of the company's business model and its team. In the current difficult situation due to the spread of the coronavirus, the company also has a socially important function to provide food for the people in quarantine or self-isolation. The O2O investment will enable Samokat to focus on this task.”

Boris Dobrodeev, CEO, Mail.ru Group,

“The acquisition of the leading Russian player in this market agrees with our strategy. From day one of the negotiations, we were convinced that the express delivery of groceries to a large number of consumers will completely change the usual consumption and shopping patterns of Russians.

The spread of the virus has forced people to change their habits much faster than expected: Moscow and St. Petersburg have temporarily switched to the self-isolation mode. We will do our best to provide fast contactless delivery of products and goods to everyone who needs it.”