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Bloomberg
Tesco agreed to sell its business in Poland to Danish retailer Salling Group, as the UK’s largest supermarket operator focuses on its domestic market in a consumer landscape overturned by the coronavirus.
The UK grocer said it expects proceeds of about 165 million pounds ($207 million) from the sale of 301 stores, as well as distribution centres and office facilities. Tesco said it has also sold 22 other sites in Poland for about 200 million pounds over the past year and a half.
Tesco’s Polish business has struggled amid intensifying competition, especially in general merchandise, and a reduction in store-opening hours.
The company has been scaling back its overseas presence in recent years, pulling out of the US in 2013 and South Korea two years later.