The story
Migros ownership
The Governor of Istanbul Fahrettin Kerim Gökay, together with the Foreign Minister Fethi Çelikbaş approached the founder of the Swiss Migros, Gottlieb Duttweiler in 1953, in order to organize a sustainable food supply to the major population centers of Turkey. Migros Turkey was established in 1954 as a joint venture with the Swiss Federation of Migros Cooperatives. Duttweiler and Charles Henri Hochstrasser, the first head of Migros Türk also held considerable percentages. Initially, Migros Turkey operated via sales trucks (like its Swiss counterpart) only later to open storefronts – the first in 1957 at the fish market in Beyoğlu, Istanbul.
Koç Group ownership
In 1975, the Koç Group took control of the company by acquiring a majority of its shares. Thereafter, Migros rapidly increased the number of stores in Istanbul, establishing the necessary infrastructure for purchasing fruits and vegetables directly from producers and farmers.
In 1981, a central perishables warehouse was opened. In 1988, following development in Istanbul, 4 large stores were opened in İzmir, and infrastructure investment was started in the Aegean region.
In addition to neighborhood stores in Istanbul and İzmir, larger stores were opened in new residential and suburban areas – an MM market in İzmir, followed by two MMM stores in Istanbul, in 1991. In 1991, Migros became a publicly traded company. Around this time, Migros extended its chain of supermarkets to other large cities, such as Antalya, Ankara and Bursa, and the resorts destinations of Marmaris, Bodrum, Silivri and Yalova.
BC Partners takeover
News reports in February 2008 indicated that BC Partners has agreed to buy Migros Türk in Turkey's biggest-ever leveraged buyout. The London-based firm was going to trade Koc Holding ₺1.98 billion (US$1.66 billion) for a 51% stake in Migros Türk. Later, BC increased its stake to 98%. In February 2008, BC Partners Ltd. agreed to acquire Migros Türk TAS, Turkey's largest supermarket chain, for about US$3.2 billion, gaining 961 stores in Turkey and nearby countries through the acquisition. In 2009 Migros Türk issued an Initial Public Offering (IPO) at the Istanbul stock exchange.
In 2011, the group sold approximately 20% back to public market investors.
Anadolu Group ownership
BC Partners revealed in January 2015 that it would sell its 40.25% stake in its supermarket chain Migros to the Turkish conglomerate Anadolu Group for around US$2.74 billion. As of 2019, Migros Ticaret A.Ş. has 2,008 Migros stores in 81 provinces of Turkey, 51 Macrocenter stores in 6 provinces, 44 Ramstore stores in Kazakhstan and North Macedonia.
From Wikipedia’s article on Migros (Turkey), shared under CC BY-SA 4.0.4
