Turkey's High Potential Consumer Sector Attracting Investment

Two recent announcements within Turkey's grocery retail sector continue to point to dynamic underlying growth for the country's food and drink market. Firstly, Turkish conglomerate Yildiz Holding revealed that it has purchased discount supermarket chain Sok from local retailer Migros Turk for TRY600m (US$381.7m). Secondly, UK-based retailer Tesco announced it was planning to invest GBP80mn in Turkey during 2011 to open 51 new outlets, including 16 hypermarkets, 25 supermarkets and 10 convenience outlets.

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