Tesco Turkish Unit Sells 10 Grocery Stores

The Tesco Turkish unit (Kipa) is selling its only stores in the country’s second largest city, Ankara. Seven of the 10 stores it is selling to Turkish retailer Begendik for $13.3 million are located in Ankara. The divestment of the Tesco stores is the latest in a recent burst of retail acquisitions that involved Carrefour and Begendik. According to Retail Analysis, the Turkish retail market is “ripe for purchases” as retailers see acquisitions as a vehicle for growth.