Umai Holding takes significant step forward against strategy to build a leading Central Asian grocery retail platform

Acquisition of Vkusnaya Korzinka by Dubai-based owner brings together two established grocery retail businesses, creating a platform of more than 220 stores across two markets Agreement will deliver greater product selection, service and value for customers

Dubai, UAE / Almaty, Kazakhstan 23 July 2026 – Umai Holding (“Umai”), the Dubai-headquartered retail group backed by Visor International and owner of Umai Group, the Central Asian grocery retail group, is pleased to announce that it has agreed to acquire Vkusnaya Korzinka, an established regional grocery retailer operating 49 supermarkets in Taraz and across southern Kazakhstan. The transaction is subject to review by the competition authority of Kazakhstan.

The agreement represents a significant milestone in Umai’s long-term strategy to build a leading modern grocery retail platform across Central Asia through a combination of organic growth and targeted acquisitions. It follows the strong growth by Umai in the Kyrgyz Republic.

Following completion, the enlarged group will total more than 220 stores across the Kyrgyz Republic and Kazakhstan, bringing the market-leading, multi-format operations of Umai Group together with Vkusnaya Korzinka’s established regional presence, recognised brand and strong local relationships. Through its investment, Umai aims to broaden the selection of goods available to customers in Kazakhstan and deliver greater value through competitive pricing and promotions.

The transaction will significantly broaden Umai’s addressable market and establish a platform for further long-term growth across Central Asia. Kazakhstan is the region’s largest economy, with the highest GDP per capita and a population of more than 20 million, while the Kyrgyz Republic continues to offer substantial scope for further organic expansion.

Vkusnaya Korzinka has built a strong position in southern Kazakhstan, anchored in its home city of Taraz, through a well-recognised local brand, an established store network and longstanding relationships with customers, employees and suppliers. Umai intends to work closely with the existing management team, combining those local strengths with its own experience in operating and scaling a large, multi-format grocery retail business.

The Vkusnaya Korzinka brand will continue to operate, providing continuity for customers, colleagues and business partners. Over time, the business will benefit from access to Umai’s operational capabilities and the investment capacity and regional experience of its shareholder, Visor International. Visor’s longstanding connections to Kazakhstan and experience investing across the region provide additional local understanding and continuity.

This agreement follows the recent announcement by Umai of its partnership with IFC for a loan facility of up to US$50 million. The financing will support the development of a new distribution centre in Bishkek and future organic expansion in the Kyrgyz Republic. Together, the two developments demonstrate Umai’s commitment to investing in the infrastructure, operating capabilities and businesses required to create a leading regional grocery retail platform.

Rud Pedersen, Chairman of Umai Group’s Supervisory Board, commented:

“This transaction is an important step in our ambition to build a leading grocery retail platform across Central Asia. It brings together two strong businesses with recognised local brands, established customer relationships and significant potential for further growth. “By combining Vkusnaya Korzinka’s local strengths with Umai Group’s operating experience and shareholder support, we are creating a stronger regional platform capable of serving more customers and delivering lasting value for all stakeholders.”

Michael Sauer, CEO and Partner of Visor International, owner of Umai, commented:

“Visor International has supported Umai Holding’s development for two decades, and this agreement marks the next stage of that journey. “Our ambition is to support Umai in building a regional grocery retail champion through disciplined investment, organic growth and selective acquisitions. Vkusnaya Korzinka is a strong cultural and strategic fit, and we look forward to supporting both businesses as they grow together.”

Almaz Tultayev, Founder of Vkusnaya Korzinka, added:

“In considering the next stage of Vkusnaya Korzinka’s development, it was important to find a partner that shared our values, understood our business and was committed to investing in its long-term growth. “We have followed Umai’s development in the Kyrgyz Republic and see a strong cultural and strategic fit between our businesses. Both companies are focused on serving their communities, investing in their people and making high-quality food more accessible. We look forward to working together to build on Vkusnaya Korzinka’s strong track record.”

Media enquiries

Hudson Sandler (international communications)

Lucy Wollam / Kristina Gaysina

lwollam@hudsonsandler.com

Kseniya Kochergina, Umai Group (domestic communications)

k.kochergina@umai-retail.kg

About Umai

References to “Umai” in this announcement are to Umai Holding, the Dubai headquartered holding company of Umai Group. Umai Holding’s businesses include Umai Retail, Forester and Logopark.

Umai is one of Central Asia’s leading grocery retailers, with more than 24 years of experience in developing modern retail, logistics infrastructure, and in-house manufacturing.

The company operates 172 stores under the Globus, Narodnyi, Dostor, and SPAR brands, serving over 280,000 customers daily. Umai employs more than 7,500 people, making it one of the country’s largest private employers.

Umai invests in the development of modern logistics, digital technologies, and its own private labels, helping to increase the availability of high-quality food products and foster the growth of modern grocery retail in Kyrgyzstan. The company ranks among the top 20 largest taxpayers in the country and is implementing a long-term strategy for sustainable growth aimed at strengthening the food infrastructure, supporting local producers, and developing the national economy. Alongside its business development, Umai carries out educational, sports, cultural, and charitable initiatives, contributing to improved quality of life, the creation of new opportunities for people, and the sustainable development of society.