Russia transfers control of German retailer Metro's Russian business to local management firm

Presidential decree and asset transfer

Russian President Vladimir Putin issued a decree on 28 September 2026 placing the Russian operations of German wholesale retailer Metro AG under temporary state administration. The order transfers full management control over Metro's Russian assets to UK Torg RUS, a domestic management company. The transfer encompasses 100% stakes in three local operating entities: OOO Metro Cash & Carry, OOO Metro Warehouse Noginsk, and OOO Retail Property 5. Corporate registry records show that UK Torg RUS was registered on 8 September 2026 by Johannes Tholey, the current chief executive of Metro Cash & Carry in Russia. Metro AG confirmed that it no longer maintains operational control over its Russian business, though legal ownership formally remains with the German parent company.

Metro operations and financial scale

Metro remained active in the Russian market following the February 2022 invasion of Ukraine, operating 91 wholesale outlets across 51 Russian regions with approximately 9,000 local employees. The company stated in 2023 that its presence supported food distribution and preserved corporate value for shareholders.

We bear responsibility for our 10,000 employees on site as well as for our customers who purchase their food from Metro Russia. Metro Russia is also a large business with importance for the overall portfolio of the group.

During the 2024–2025 financial year, Metro recorded 2.6 billion euros in Russian revenue, 135 million euros in adjusted EBITDA, and 43 million euros in store investments. In the first nine months of 2026, Russian operations delivered 2.14 billion euros in sales, representing 8.7% of group turnover and one-third of total group sales growth. Cash and cash equivalents in the Russian subsidiary stood at 152 million euros on 30 June 2026.

Wave of Western company takeovers

The decree follows a sequence of asset transfers targeting foreign corporations operating in Russia. Earlier in September 2026, Russian authorities seized the local businesses of Swiss food producer Nestlé, French supermarket retailer Auchan, French logistics operator FM Logistic, and French home improvement chain Leroy Merlin. On 21 September 2026, the Russian government placed the domestic operations of US packaging manufacturer Aptar under external administration. Similar takeovers previously occurred at French dairy group Danone and Danish brewer Carlsberg, where assets were subsequently acquired by local entities at low valuations.

Kremlin spokesman Dmitry Peskov stated that the measures respond to actions by countries that supply military aid to Ukraine. Peskov stated that Western weapons assist Ukrainian drone strikes against Russian civil and economic infrastructure, including logistics centres belonging to Russian retailers Wildberries and Ozon.

Bilateral tensions and diplomatic fallout

The asset transfer coincides with worsening diplomatic relations between Germany and Russia. German authorities attributed an attempted drone strike on Leipzig/Halle airport, a logistics base for military aid shipments to Ukraine, to Russian security services. Germany responded by ordering the closure of the Russian consulate in Bonn and the Russian House cultural centre in Berlin. Moscow denied involvement in the Leipzig incident and retaliated by ordering the closure of Germany's consulate in St. Petersburg.

German Foreign Minister Johann Wadephul met Russian Foreign Minister Sergei Lavrov on 26 September 2026 at the United Nations General Assembly in New York. Johannes Tholey had previously stated to Forbes in early 2026 that the German leadership intended to maintain operations.

We are part of the German group Metro AG, and the Germans have zero desire to get rid of us. As the network's top managers in Germany announced three years ago that they want to stay in Russia, so we remain here.