By Shirin Aguiar • 22 November 2019 • 11:49
Tesco's Food Co plans to expand across Spain, starting with the Costa del Sol
Live in Spain’s Costa del Sol and miss your Tesco baked beans and sausages? Fret not, they’re coming soon to a store near you!
Much to the ire of Mercadona and Carrefour., the popular UK supermarket opened its first Spanish store in Puerto de Mazarrón (Murcia) earlier this month under the name Food Co, and plans to open more.
Mijas and Ibiza (Balearic Islands) are next, followed by Gibraltar, Madrid and Barcelona by 2021, to boot.
The Food Co, which will stock popular Tesco own-brands such as its ‘Finest’ brand, is the result of an alliance between Tesco and Alicante company Overseas Imports.
Tesco just wants to be close to its potential customers, Brits, it said. The Murcia store is 1,000 square meters and offers 7,500 Tesco branded products.
The company reported a turnover of €56.8 million last year, compared to €50.9 million the previous year.
Mercadona is currently the market leader in Spain, with a 24.9% market share, while German supermarket Lidl grew the most last year.
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