Jun 18, 2020

Tesco sells Polish supermarket business

Tesco has agreed to sell its business in Poland as it continues to scale back its international operations. The UK supermarket giant is selling its 301-store Polish business to Danish retail group Salling Group for £181m. It said the sale would allow it to focus on its central European markets of Czech Republic, Hungary and Slovakia where it commands more of the market. "We have seen significant progress in our business in Central Europe, but continue to see market challenges in Poland," said Tesco chief executive Dave Lewis. "Today's announcement allows us to focus in the region on our business in Czech Republic, Hungary and Slovakia, where we have stronger market positions." In March, Tesco sold its operations in Thailand and Malaysia for $10.6bn. The supermarket chain had 2,000 stores across both countries, under the Tesco Lotus brand, and sold them to Thai conglomerate CP Group.

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