Tesco has bought Leader Price, a Polish convenience retail chain, for £72 million.
Tesco bought the chain from French retailer Casino and hopes the deal will help it grow in a “highly fragmented and competitive Polish market”, Tesco chief executive Kevin Grace told the BBC.
Tesco currently has a bank of 107 outlets in Poland, built up over the last decade, and the deal with Leader Price will see the retailer take over its 220 stores across the country.
According to the BBC website, Tesco’s international sales increased by 23 per cent in the last financial year, compared to a 10.7 per cent rise in UK sales. Non-UK sales now account for around a quarter of the retailer’s total revenue, the website reported.
It is thought that the chain’s focus on Eastern Europe could also eventually expand to Hungary, the Czech Republic and Slovakia.
