Tesco expands European operation

Supermarket giant Tesco bolstered its international portfolio with a deal to buy Poland’s Leader Price for £72m (€104.6m) today.

Tesco already has 107 outlets in Poland, but will gain another 220 convenience stores through the purchase.

Tesco first began trading in Poland in 1995 and has since built up an operation employing more than 20,000 people and with sales in excess of £900m (€1.3bn) a year.

Tesco said the acquisition of Leader Price, which is part of the Casino group, would enable it to grow its business in the “highly fragmented and competitive Polish market”.

Some of the Leader Price stores are run on a franchise basis, with the total estate generating annual sales of £167m (€243m) and employing 2,200 people.

Outside the UK, Tesco operates in 11 countries, including the Czech Republic, Hungary and Turkey.