(2/8/2010) CarrefourSA acquired Ipek Giyim/Alpark, a local supermarket chain in Turkey.
Ventura Partners acted as exclusive financial advisor to CarrefourSA on the transaction.
CarrefourSA, Carrefour’s Turkish subsidiary acquired 100% of Ipek Giyim, a local retail chain in Turkey. Ventura Partners acted as exclusive financial advisor to CarrefourSA on the transaction.
Ipek Giyim operates 27 supermarkets in Istanbul under the Alpark banner. It recorded net sales of 79 million Turkish lira in 2009 (around €41m). The transaction is valued at around €24m. The acquired stores will be converted to the Carrefour Express/ Market banners over the coming months.
This transaction illustrates Carrefour’s strategy of reinforcing its presence in growth countries where the Group has leadership positions. Carrefour operates in Turkey through its subsidiaries CarrefourSA (58.2% owned by Carrefour and 39.8% by partner Sabanci) and DiaSA (60% owned by Carrefour and 40% by Sabanci). In 2009, Carrefour posted net sales in Turkey of €1,383m through its 26 hypermarkets, 165 supermarkets and 675 hard discount stores.
Ventura Partners, based in Istanbul-Turkey, is one of the leading M&A advisory boutiques providing corporate finance services in a broad range of sectors.