X5 Retail Group is the second largest retailer in Russia. As of 2012, the Moscow-based company had 2,545 stores and 109,000 employees.The company was created in May 2006 after the merger of the Pyatyorochka and Perekrestok food retail chains. It was the country's largest retailer in terms of sales before being overtaken by Magnit in April 2013. A rival grocer, Kopeyka, was acquired by X5 for $1.12 bln in 2010. X5 also operates the Karusel hypermarket chain.