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.

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