Korzinka

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 The proposed investment is a 7-year senior secured A loan of up to US$25M, to finance the construction of a central distribution center (DC), which will help the Company consolidate its logistic operations, reduce operating costs and delivery times, and sustainably grow its store network (the “Project”). Anglesey Food (Company or Korzinka) was established in 1996 as one of the pioneers in the retail market of the Republic of Uzbekistan. At the beginning, stores operated as “convenience stores” under Anglesey Food brand name. In 2005 re-branding of the company was made, and further retail supermarket chain development continued under the brand Korzinka (korzinka.uz).  Company operates a multi-format chain of 86 stores in 10 regions, dominating in Tashkent, Map of stores is presented on company website. Korzinka has seven store formats, structured under three brands;Korzinka.uz brand has four store formats as; p(i) Premium (16 stores with average sales area 900 sqm), (ii) Medium (42 stores, 750 sqm in average), (iii) Small (four stores, 450 sqm in average), and (iv) Large (9 stores, 1400 sqm in average). Korzinka.uz Diskont brand operates as (i) Plus (three stores, 800 sqm average sales area, selling fresh products like fresh meat, fresh vegetables and fruits), and (ii) Hard (four stores, 550 sqm in average, for non-fresh products). Smart store format is represented with five stores, 250 sqm in average, serving the densely populated residential areas.  In addition, Korzinka operates three warehouses that supplies to the stores, with two located in Tashkent.  The new DC will be located on a plot of land with direct access to the ringroad servicing Tashkent and with access to main roads with connectivity to the regions. The new DC will operate on 18,200 sqm and will serve 200 stores.