Tesco to Exit Czech, Slovak Food Markets

Britain’s largest supermarket operator, Tesco, will exit its food retail operations in the Czech Republic and Slovakia after 30 years to concentrate on its core UK and Irish markets.

The retailer announced Friday that it agreed to sell its network of over 460 stores to Dutch food seller Ahold Delhaize for €1.7 billion ($1.9 billion), pending regulatory approval in the second half of next year.

Tesco Chief Executive Ken Murphy noted that the transaction simplifies group operations and facilitates returning capital to shareholders through planned buybacks.

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Tesco stock rose 1.2 per cent following the announcement, while the company continues reviewing options for its remaining business in Hungary.

Tesco to exit Czech and Slovak food markets (News Central TV) — Tesco is to exit Czech and Slovak food markets.  Credit: Reuters

The deal significantly expands Ahold Delhaize’s footprint across Central and Southeastern Europe, adding 14,000 employees to its operations.

Ahold Chief Executive Frans Muller stated that integrating Tesco’s locations with its existing Albert store brand will establish Ahold as the leading grocery retailer by market share in the Czech Republic and a dominant operator in Slovakia.

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Abisoye Adeyiga

Abisoye Adedoyin Adeyiga holds a PhD in Languages and Media Studies and a Master’s in Education (English Language). Trained in digital marketing and investigative journalism, she is passionate about new media’s transformative power. She enjoys reading, traveling, and meaningful conversations.