Local supermarket chain Migros plans to open over 150 new branches in 2016
ISTANBULTurkish supermarket chain Migros has said it plans to open 150 to 200 branches over this year in a written statement to the Public Disclosure Platform (KAP) on April 12.
In the statement, which summarizes the decisions held at the company’s latest board meeting, the number of new, planned stores was set between 150 and 200.
There were 1,402 Migros stores in Turkey and 45 abroad through foreign partnerships, totaling 1,447 stores as of March 31, according to the statement. Migros closed 2015 with a total of 1,410 stores in total.
The company also said the growth target was set in the double-digits for this year, compared to 2015.
At the end of 2014, Turkey’s Anadolu Holding announced it would acquire a majority stake in the chain. The Competition Board, however, only approved a “conditional” sale of a 40.25 percent stake in the retail chain, after a complaint filed by Tuborg, Anadolu’s competitor in the brewery sector, upon competitiveness principles, reports then showed.
After several negotiations last year, the group vowed to offer a shelf guarantee to Tuborg and was then qualified to finalize the acquisition as of July 9, 2015. The official signature ceremony was later held in July 2015.
Anadolu Group’s Chairman Tuncay Özilhan has recently become the chain’s chair as well.