EBRD and Zubr Capital acquire stake in Belarusian cosmetics retail chain Mila

By Anton Usov


  • EBRD and Zubr Capital to acquire 20 per cent of shares in special holding company owned by ParfumBytKhim Group
  • 150 new Mila cosmetics and household goods stores to be opened by 2022
  • Investment to promote modern retail standards and kindle competition

Customers across Belarus will benefit from new stores and the refurbishment of existing outlets of one of the country’s leading distributors of personal and home care products Mila thanks to a joint investment by the EBRD and the private equity fund Zubr Capital.

The two partners will acquire up to 20 per cent of shares in a new special holding company owned by ParfumBytKhim Group of Belarus, which will manage the Mila stores.

The investment will facilitate the opening of 150 new stores across the country by 2022, the refurbishment of existing retail outlets and the construction of a modern warehouse, which will help improve logistics to support the retail network expansion.

Mila, one of the largest retailers of cosmetics and household goods in Belarus, will strengthen its market position by increasing its customer base and offering a greater range of products at competitive prices.

Zubr Capital Fund is the first Belarus-focused institutional private equity fund managed by an experienced, locally based team of investment professionals.

Since the start of its operations in Belarus in 1992, the EBRD has invested almost €2.46 billion in 114 projects in various sectors of the country's economy.