BC Partners Closes Migros Deal

Turkey's largest mass grocery retail (MGR) operator, Migros Türk, has seen its first quarter sales and profits rise. According to a company statement, consolidated net profits rose by an impressive 68.4% to TRY55mn (US$44mn), and net sales were up by 19.2% to TRY1,150mn (US$924mn). Migros was the subject of lengthly acquisition negotiations in 2007-2008 and was eventually acquired by private equity firm BC Partners, with the deal closing on May 30th. A BC Partners-led consortium is now looking to buy out minority shareholders in Migros, with the government paving the way with new legislation.

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