BC Partners, a United Kingdom private equity firm, has sold SOK, a Turkish discount grocery chain, and subsidiary of Migros Ticaret, Turkey’s largest supermarket chain. Gozde Finansal and Bizim Toptan acquired the chain for USD 380.1 million. Murat Ulker is the leading shareholder in both of these firms and is also associated with Ulker group, a Turkish food producer.
The sale comes only a few weeks after BC Partners sold nearly 18% of its share in the parent company. BC sites the sale as one out of necessity to pay down Migros debt and invest into expanding the company. This sale was valued at USD 515 million.