Metro To Sell Its 12 Real Hypermarkets In Turkey
The German retailer Metro is to sell its 12 Real hypermarkets in Turkey to Haci Duran Begendisk, an…The German retailer Metro is to sell its 12 Real hypermarkets in Turkey to Haci Duran Begendisk, an Ankara-based supermarket chain. Metro has made the decision to concentrate on its domestic stores:
"With this move, Real will fully focus on the successful development of its business in Germany," a spokesperson stated. They added that the price would not be disclosed.
Real Turkey had sales of €256 million in the 2012/13 fiscal year, and employs about 1,800 people.
Metro is the fourth-largest European retailer, and operates 2,200 stores in 31 countries. It has of late been placing more emphasis on its cash-and-carry, and electronics stores – two fields which it believes will be increasingly lucrative in the future.
In 2012, it sold its Real hypermarkets in eastern Europe to French rival Auchan for €1.1 billion, leaving Turkey as Real's only market outside Germany.
Real, which accounts for about 16 per cent of Metro sales, faces tough competition from discount supermarket chains such as Aldi and Lidl, seeing its German sales drop 4.4 per cent to €4.089 billion in the first half of the 2013/14 fiscal year.
Metro said that Turkey remains an important focus for both its cash-and-carry business, and its Media-Saturn business, Europe's biggest consumer electronics chain.