Discount markets Şok buys another chain
ISTANBUL - Hürriyet Daily NewsThe Gözde Girişim unit Şok discount supermarket chain has signed a deal to acquire local supermarket chain Onur Ekspres Marketçilik for 33 million Turkish Liras ($17 million).
The acquisition was announced to the public by Bizim Toptan Satış Mağazaları, which owns 10 percent of Şok Market, in a stock exchange filing.
At the beginning of this month, Şok Marketler finalized the purchase of another discount supermarket chain, DiaSA, which used to be owned by a partnership of Spanish supermarket group Dia and Turkey’s Sabancı Holding.
After the 129.7 million-worth deal, Yıldız Holding now owns the second biggest discount market chain in Turkey with around 2,500 Şok and Dia stores after BİM, which reached 3,845 stores at the end of June 2013.