Tesco has announced the £75 million acquistion of Kipa in Turkey. The acquistion will be the 11th country that the group has operations in.
Kipa employs 1,500 staff and has a 10 per cent market share in the Aegean region. A spokesman for Turkey said the acquistion gave it a toe-hold in Turkey, and that Turkey's proposed EU membership would make the country attractive.
Tesco chief executive Sir Terry Leahy, said: “The acquistion of Kipa is an important step in our international strategy for long-term growth.”
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