Turkey: Carrefour exits market with offloading of minority stake

Carrefour, the French multinational retail group, has announced the sale of its 32.25% stake in its Turkish joint venture, CarrefourSA, to the Turkish conglomerate Aydin Group.

The transaction is valued at approximately 2.5 billion TRY ($72.4 million). Aydin Group is a prominent local business group that already operates the A101 discount supermarket chain. According to sources, the move effectively marks Carrefour’s exit from the Turkish market as the retailer seeks to reshape its global portfolio, including its continued pivot towards Africa.

The divestment aligns with the “Carrefour 2026” strategic plan, which focuses on simplifying the group’s geographical footprint and prioritising core markets. In a statement regarding the deal, Carrefour said: “This transaction is part of the Carrefour 2026 plan and follows our strategy of focusing on our core geographies”.

CarrefourSA, the joint venture being divested, operates a network of hypermarkets and supermarkets across Turkey. The sale is expected to be completed by the end of 2026, subject to customary regulatory approvals and closing conditions.

Source: Carrefour (via Finanzwire) / RetailDetail / Reuters / ESM