Mars, which claimed to have stopped investing in Russia, has leased more than 40,000 square metres of warehouse space in New Moscow
The U.S. company Mars has leased 41,000 square metres of warehouse space from the developer Level Group in the Level Box Terekhovo logistics park under construction in New Moscow. This was reported by Vedomosti, citing two unnamed sources close to both parties to the transaction.
According to the newspaper, the deal was closed at the end of last year, but was not officially announced.
Mars owns the M&M's, Snickers, Dove, Mars, Orbit, Pedigree, Royal Canin and Whiskas brands. The company has operated in Russia since 1991. In March 2022, following the start of the Russian military operation in Ukraine, Mars said it was ceasing investment in Russia and stopped advertising in Russia and Belarus. The company also stopped importing and exporting its products to and from Russia. Meanwhile, the company's factories in Russia continued to operate.
According to Vedomosti's sources, the Russian market is still very important for many foreign investors due to its size, although they do not intend to officially declare this. Earlier, a survey of top managers of foreign companies operating in Russia showed that the most common reasons for staying in the Russian market are its large size, high potential and positive development.
The Level Box Terekhovo logistics park is scheduled to begin operation in mid-2026. It will include two buildings with a total area of about 73,000 square metres between Kaluzhskoe highway and Kievskoe highway near the Central Ring Road. Mars is currently the only resident of Level Box Terekhovo, Vedomosti reports. The company is increasing its warehouse capacity in Russia due to business growth, according to consultants interviewed by the newspaper. Experts estimate Mars' total expenditure on the Terekhovo warehouse to be RUB 410-512.5 million a year.
The consultants called this deal one of the largest in the warehouse property market in recent times.