Teknosa acquires Best Buy Turkey.

By bne IntelliNews June 21, 2011
The country's largest consumer electronics retailer Teknosa acquired Best Buys subsidiary in Turkey together with its two stores in Izmir and Ankara for an undisclosed amount. General Manager of Teknosa, Mehmet Nane, announces that the company had previously targeted to increase its net sales space to 20,000 m2 this year by growing 20% y/y and it added 7,600 m2 sales space, 4,200 m2 in Ankara and 3,400 m2 in Izmir, following the acquisition. Teknosa also lifted its previous turnover target of TRY 1.5bn by 5% as a result of the acquisition. Nane also informs that the company may still consider new acquisitions. Please note that Best Buy announced in February that it decided to exit the Turkey test market, as part of the companys restructuring plans; and daily Milliyet reported last month that Teknosa was planning to acquire Best Buys two stores together with the products in the stores.

Related Articles

PKK leader Ocalan calls for ceasefire and withdrawal of militants from Turkey.

The jailed leader of the PKK, Abdullah Ocalan, called for a ceasefire on Thursday, ordering armed PKK militants to withdraw from Turkey. Hundreds of thousands of people gathered in the city of ... more

Syrian government says Turkey responsible for chemical attack.

The Syrian government said the rebel groups foreign supporters, Turkey and Qatar, were responsible for a chemical attack in Aleppo. The countries that back and support the rebels, including ... more

Erdogans comments on Zionism clouds US secretary of states Turkey visit.

US secretary of state John Kerry was in Ankara on Friday for talks with the Turkish leaders, including PM Recep Tayyip Erdogan and President Abdullah Gul, focused on the crisis in Syria, ... more

Notice: Undefined index: subject_id in /var/www/html/application/controllers/IndexController.php on line 335
Dismiss