Turkey: acquisitions & appointments

Date : 29 June 2016

Discounter A101 is set to acquire Çağrı, while Bizim Toptan has appointed a new CFO.

A101 to acquire Çağrı

According to local reports, A101 is to acquire the Istanbul-based Çağrı chain, which operates around 45 compact hypermarkets, neighbourhood stores and discount stores. The deal is subject to approval from local competition authorities.

Consolidation continues

The latest developments demonstrate how the Turkish market remains ripe for consolidation with a number of developments taking place recently. In 2015, CarrefourSA made three acquisitions, while earlier this month Tesco announced it was to sell its controlling stake in Tesco Kipa to Migros.

Bizim Toptan appoints new CFO

In other news, wholesaler Bizim Toptan has appointed Ertan Kirez as CFO, replacing Ziya Kayacan who will move to another role at Yildiz Holding.