Food Industry
Industry: Email Alert RSS FeedCasino in Turkey - Groupe Casino looking to invest in Turkey's Dogus - Brief Article
Eurofood, May 24, 2001
French firm Casino, is considering entry into the growing food retail sector in Turkey.
Casino is to hold talks with the Tansas chain, according to an announcement by Tansas' holding company, Dogus. The Turkish company informed the Istanbul Stock Exchange of pending talks, saying they will be undertaken at the initiative of Casino and may involve an alliance or Casino buying into Tansas, which controls 25% of Turkey's US$2bn (2.24bn [European Dollar]) a year market, ranking third in the sector.
Supermarket and hypermarkets in Turkey are in fast expansion, numbering over 2 500 across the country. They control 30% of the retail market, going up to 50% in large cities.
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Turkish chains have also opened outlets in Eastern Europe, particularly in Russia, Ukraine, Romania and Bulgaria.
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