TURKEY: Carrefour SA completes acquisition of Kiler | Progresiv

Following an earlier announcement in May, Carrefour franchisee Carrefour SA has completed the acquisition of Turkish supermarket chain Kiler, in a deal worth 429 million Turkish Lira (160 million euros).

This marks the retailer’s third and largest acquisition of 2015 as it acquires Kiler’s c.200 stores, following the smaller acquisitions of 1e1’s 29 stores in March and Ismar’s 26 stores in February.

Commenting on the acquisition, CarrefourSA CEO Mehmet Nane said, ‘We have already set 2015 as a growth year for us and said earlier that we were open to acquisitions. We are now very happy to acquire the majority stakes in Kiler, one of the biggest players of Turkey’s retail market. We will continue to assess inorganic growth opportunities in the future as well’. (www.retailanalysis.igd.com)