Sokolov's Russian jewelry empire has been transferred to new ownership
In a significant move for the Russian retail market, the Sokolov jewelry holding company has been acquired by private investor Anton Pak. The deal, although not disclosed in amount, is one of the largest in recent years, according to Managing Partner Sergei Ayrapetov.
The Sokolov holding, established in 1993 by Elena and Alexei Sokolov and now led by CEO Nikolai Poliakov, has seen impressive growth over the years. In 2024, the consolidated revenue of the group grew by 41% year-on-year to 60.5 billion rubles, while the net profit increased by 36% to 6 billion rubles.
Artem Sokolov, the founder of the holding and the seller of the K2 Group, has been looking for an investor to boost the holding's further growth. He considered an IPO as an option, but ultimately decided to sell to Anton Pak.
The new owner, Anton Pak, has become the owner of all legal entities and trademarks of the holding. He has stated that the Sokolov holding will continue to develop according to its existing strategy, remaining independent as it always has been.
Factors such as the company's debt load, macroeconomic influences, and consumer sector data were considered in the deal's valuation. The deal's amount could have ranged from 30 billion to 40 billion rubles, according to Infoline-Analytics Director General Mikhail Burmistrov.
Artem Sokolov, who took over the jewelry business from his parents in 2014, plans to focus on his own projects and venture investments after the deal. He has also noted that the company has never hidden its ambitions and the need for additional investments for further growth.
Sergei Ayrapetov, Managing Partner, emphasized that a strong brand, vertically integrated business model, impressive financial results, and a professional team always attract a strategic buyer. Aspiring Capital served as the financial advisor to the seller in the deal.
After the deal is closed, Artem Sokolov will continue to support the Sokolov Family Charity Foundation. The CEO of the Sokolov holding, Nikolai Poliakov, will continue to lead the company under Anton Pak's ownership. Anton Pak has stated that the Sokolov holding will continue to develop under the leadership of CEO Nikolai Poliakov.
The Sokolov holding, a prominent player in the Russian retail market, has been purchased by private investor Anton Pak, marking one of the largest deals in the industry in recent years. With impressive financial results and a strong business model, the acquisition is expected to boost the holding's further growth in finance, retail, and business sectors.
