More than $1.5 billion for a share: ATB co-owners abandoned the high-profile sale and purchase deal
23 April 17:53
Gennadiy Butkevych , co-owner of Ukraine’s largest discount chain ATB, said that before Russia’s full-scale invasion, he and other co-owners of the company were offered to sell their shares for $1.6 billion each. He voiced this information in an interview with Forbes Ukraine, Komersant ukrainskyi reports.
“Before the full-scale war, we were offered $1.6 billion to each co-owner. We refused,” Butkevich said.
The co-owner of the market chain did not disclose any details of the sale and purchase agreement, which never took place.
How ATB will develop in 2025
Ukraine’s largest retailer, ATB Corporation, has announced ambitious plans to expand its network to 5,000 stores. This is almost 3.5 times more than it is now, as the chain has about 1,300 outlets as of early 2025.
Opening one new ATB store costs the company an average of USD 2.5 million. This amount includes the cost of land (or lease), construction or refurbishment of premises with a retail area of about 1400 square meters, repairs, purchase of equipment, machinery, refrigeration equipment and logistics.
ATB is not just increasing the number of outlets – the company is actively reviewing its approaches to their location. The company prioritizes cities with a population of 10,000 or more.
In addition, the company has begun to open stores near city exits and in small towns where large retailers were not present a few years ago.
In 2025, the corporation plans to open 80 new stores and acquire another 100 real estate properties for future outlets. This is part of a long-term plan that takes into account the economic situation, competition, and logistics.
Read also: Glass facade shattered: a Russian missile hit ATB’s headquarters
What you need to know about Gennadiy Butkevych
In addition to retail business, Butkevich is actively investing in other industries through his investment company BGV Group Management. In particular, he has invested over $100 million in mining projects in Ukraine, including the development of graphite and beryllium deposits. In 2025, the company plans to start construction of one of Europe’s largest graphite plants at the Balakhivske deposit in Kirovohrad region.
Butkevych is also the owner of the Polissia football club (Zhytomyr), in the development of which he has invested several tens of millions of euros. According to him, he even sold a yacht to finance the club.
In addition, in December 2024, Butkevych’s company Trident Geoinvest Ukraine purchased the nationalized Aerok plant, previously owned by Russian businessman Andriy Molchanov, for UAH 1.89 billion at auction. These funds have already been transferred to the Fund for the Elimination of the Consequences of Armed Aggression.
ATB chain in Ukraine: what is known
The ATB supermarket chain is one of the most powerful retailers in Ukraine. Founded in 1993 in Dnipro, the company has grown from a regional chain to a national leader in the discount segment. As of 2024, ATB-Market has more than 1300 stores in 305 locations across the country, covering almost all regions, including the frontline areas.
The main concept of the chain is to provide customers with a wide range of goods at the lowest possible prices. This is achieved by optimizing logistics, cooperating with Ukrainian manufacturers, owning its own distribution and minimizing the cost of store decoration. “ATB is also actively developing its own brands, which are usually cheaper than similar branded products.
According to the company, in 2024, the chain’s turnover grew by 15% and reached over UAH 248 billion. During peak periods, especially in times of war, ATB ensures the food security of a large part of the population, remaining the only operating outlet in a number of frontline areas. About 90% of the products on its shelves are of Ukrainian origin.
The company is owned by Gennadiy Butkevych, Yevhen Yermakov andViktor Karachun.
In addition to retail, ATB has its own logistics centers, vehicle fleet and a developed distribution system that allows it to deliver goods across the country in a timely manner. The company also invests in process automation and implements digital solutions for accounting, procurement and sales analysis.
ATB is actively investing in autonomy and energy efficiency. The company is installing solar power plants on the roofs of its stores, which significantly reduces electricity costs. Currently, more than 40 stores already have solar panels, and more than 180 are at the design or installation stage. It is estimated that one store with panels can save about UAH 1.5 million per year.
In addition, the company is upgrading refrigeration equipment and lighting systems, switching to technologies that consume less energy and require less maintenance.
