CarrefourSa acquires Turkish local supermarket chain

The joint partnership of French Carrefour and Turkish Sabanci will pay more than $165 million for 85 percent of the shares of Kiler

Photo by: AA
Photo by: AA

Updated Jul 28, 2015

CarrefourSa, partnership of French Carrefour Group and Turkish Sabanci Holding, announced today that they reached a deal of acquiring 85 percent of the shares of Kiler - a local supermarket chain - for almost ₺430 million ($165 million), according to a written statement sent to the Istanbul stock market’s Public Disclosure Platform.

“We are happy for 85 percent of Kiler, one of the biggest players in Turkey, joining to CarrefourSa,” said CarrefourSa General Manager Mehmet T. Nane in a press release.

“We will continue to evaluate future opportunities.”

This will be third of CarrefourSa’s acquisitions this year, if the deal is approved by the relevant regulatory bodies. The company had also bought two supermarket chains within the first few months of the year.

In 2013 the French Carrefour Group and Sabanci Holding reorganised their partnership and Sabanci Holding became the majority holder in Carrefoursa, owning 50.8 percent of the company’s shares. 

TRTWorld and agencies