Jumbo S.A. and BALFIN Group expands partnership in 11 markets

BALFIN Group and Jumbo S.A. have signed a strategic agreement that significantly expands their long-term partnership, giving it away BALFIN exclusive rights for operation and development of the Jumbo brand in Armenia, Azerbaijan, Georgia, Kazakhstan, Ukraine and Uzbekistan. In this way Jumbo and BALFIN Group strengthen their partnership by extending exclusive co-operation in the form of Francis 11 countries.

The agreement envisions the application of a new operating model between the parties. Under the new agreement, BALFIN will independently manage the entire supply chain for the new states. BALFIN Group wants to build an integrated logistics network, of

Supported by the centre in China and the dedicated infrastructure in the new operating area.

This agreement is a testimony to the capacities and ambitions our team has built over a decade of co-operation with Jumbo S.A. Enhancing exclusivety in six new markets, as well as taking full responsibility for the logistics chain to the final consumer, represents a strategic step that positions BALFIN among the most ambitious retail trade operators in the region. This reflects the faith that Jumbo S.A. has on us, as well as our belief in the potential for growth in these markets,” said Samir Mane, president of the BALFIN Group.

Apostolos-Evangelos Vacakis, Founder and Chairman of Jumbo S.A., said: Our subx0>Partnerity with BALFIN has consistently brought high results to any market where we operate together.

The performance, professionalism and operational discipline of the BALFIN team have given us full confidence to entrust them with this much larger territory and independent management of the supply chain. We are proud to expand our cooperation in these new dynamic markets and look forward to bringing in

Jumbo's experience for millions of new clients. ”

The agreement positions the BALFIN Group at the centre of one of the most important strategic shopping and logistics corridors linking Asia and Europe. By creating direct supply and distribution capacities,

BALFIN gains more operational flexibility. Enlargement is expected to boost job creation, infrastructure investments and knowledge transfer (know-how) to

New operational markets, as well as strengthening trade and commercial ties between the Western Balkans, the European Union and the wider Eurasian region.