Tesco (TSCDY) is probably one of the most recognizable retail names in the United Kingdom—at least when it comes to grocery shopping. But what you may not know is that it owns five different companies outside of its grocery business.𝓀 This allows Tesco to diversify its portfolio to include wholesaling, data and consultancy services, financial services, and mobile phone operations. This article outlines a brief overview of the company's history and the companies it acquired since it was first created.

Tesco: An Overview

澳洲幸运5官方开奖结果体彩网:Tesco PLC was founded in London in 1919 by Jack Cohen. He began selling groceries from a small stall after returning from the battlefield. It was at this stall where he made a profit of £1 on total sales of £4. Cohen began selling tea under the Tesco brand in the mid-1920s. In 1929, he opened his first Tesco store where he sold dry goods and Tesco tea. Cohen expanded his operations to include new locations and explored self-service stores during the 1930s and 1940s.

Much of the company's growth has come through 澳洲幸运5官方开奖结果体彩网:acquisitions. Tesco began acquiring other companies in the 1950s—a strategy that continues even today. While the original focus was on groceries, the company has expanded its portfolio of offerings to include a diversified interest in clothing, books, furniture, toys, electronics, software, financial services, and even gasoline.

Tesco is now one of the world's largest retailers, with 4,859 locations in five different European markets. The majority of these are found in the United Kingdom. The company's 澳洲幸运5官方开奖结果体彩网:market capitalization was about $24.13 billion as of June 2023. For the 52-week period ending Feb. 25, 2023, the company reported group sales of roughly $68.93 billion and group operating profit of $3.14 billion.

Tesco's Businesses

Tesco may have started as a grocery store but it also competes with other retailers like convenience stores and general merchandisers. The British multinational made a name for itself through organic growth and, most notably, through a series of strategic acquisitions. It continues to expand its business interests through 澳洲幸运5官方开奖结果体彩网:organic growth,

The company lists the f♐ollowing businesses in its annual report:

• Tesco: The company's main unit—its grocery retail business. Tesco has a presence in the U.K., Ireland, the Czech Republic, Hungary, and Slovakia.
• Booker: This unit is a food and beverage wholesaler serving businesses like caterers and independent retailers.
• Dunnhumby: Tesco's data science business. Dunnhumby provides tech, software, and consulting solutions for brands, retail grocery, pharmacy, and financial services groups.
• One Stop: The convenience store unit has more than 1,000 locations.
• Tesco Bank: With more than five million customers, Tesco Bank offers a range of 澳洲幸运5官方开奖结果体彩网:financial services and insurance products.
• Tesco Mobile: This unit has more than five million customers across the United Kingdom. It launched in 2003 as a result of the joint venture between Tesco and O2.

These businesses operate as Tesco brands,𓂃 so they represent non-acq𝔉uired companies.

A Timeline of Tesco Acquisitions

The Early Days

Tesco purchased 19 Burnards stores in 1955. The company acquired 500 new stores to its 澳洲幸运5官方开奖结果体彩网:portfolio over the next five years. It expanded outside London over the next decade by purchasing 212 Irwin’s stores in Liverpool. In 1964, it entered the self-service business, buying 97 Charles Phillips stores. That same year, Tesco bought Cadena, giving it 49 bakeries and cafes. A year later, it acquired Manchester-based Adsega, which owned 47 stores.

The 1980s and 1990s

After a long break from acquisitions, Tesco bought Cartier stores in Kent in 1980. Seven years later, Tesco completed a 澳洲幸运5官方开奖结果体彩网:hostile takeover of the Hilliards c𝔉hain, involving 40 supermarkets in northern England.

Tesco continued its strategic 澳洲幸运5官方开奖结果体彩网:investments, acquiring Holland-based S𒁏-Market and Scotland supermarket chain William Low in 1994. Tesco moved into Poland in 1♔995 with the purchase of the Savia chain.

In 1996, it purchased several K-Mart locations in the Czech Republic and Slovakia. Tesco bought the retail division of Associated British Foods, which gave the company the Quinnsworth, Stewarts, and Crazy Prices chains—all located in Ireland.

The 2000s

The new millennium ushered in a sཧeries of other key deals including:

• The purchase of 13 HIT hypermarkets in Poland in 2002
• The purchase of Kipa shops in Turkey in 2003
• The acquisition of Adminstore convenience stores in London in 2004
• Buying out 21 Safeway/BP stores in 2005
• Purchasing an 80% stake in Poland's Leader Price supermarkets in 2005
• Buying Dobbies Garden Centres in 2008, then selling in 2016
• Purchasing 36 Homever stores in South Korea in 2008
• Acquiring retail consultancy Dunnhumby in 2010
• The purchase of the mobile book platform Mobcast Services in 2012
• Acquiring Giraffe restaurants and cafes in 2013
• Purchasing Euphorium Bakery in 2015 and selling it a year later
• Purchasing food 澳洲幸运5官方开奖结果体彩网:wholesaler Booker Group in 2017

Losses Hurt Tesco Acquisitions

Some of Tesco's acquisitions seemed logical when they were made but resulted in losses. For example, the company purchased the Victor Value chain in 1968 but sold it in 1986 due to heavy losses.

In 1993, Tesco bought a French supermarket and convenience store chain called Catteau. The company was forced to sell the chain four years later because of its failure to live up to performance expectations.

The Bottom Line

Along with its organic growth, Tesco has grown through a series of acquisitions. By most accounts, the company acquired about 30 different entities since it first popped up as a stall in London in 1919. But keep in mind that this figure may be misleading. That's because many of the companies Tesco acquired were absorbed or rebranded as Tesco properties. This has occurred over a period of 60 years and appears to be a method for going forward for Tesco even today.