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July 05, 2015 7:56 PM ET

Food and Staples Retailing

Company Overview of Tesco PLC

Company Overview

Tesco PLC, together with its subsidiaries, operates as a grocery retailer. The company also provides retail banking, financial, and insurance services. In addition, it engages in the property, purchasing, data analysis, and sourcing operations. The company operates in the United Kingdom, India, Malaysia, South Korea, Thailand, the Czech Republic, Hungary, Poland, the Republic of Ireland, Slovakia, and Turkey. It serves its customers through approximately 7,817 stores, including franchises, as well as through the Internet. The company was founded in 1919 and is based in Cheshunt, the United Kingdom.

New Tesco House

Delamare Road

Cheshunt,  EN8 9SL

United Kingdom

Founded in 1919

517,802 Employees

Phone:

44 19 9263 2222

Key Executives for Tesco PLC

Chief Executive Officer and Director
Age: 49
Total Annual Compensation: $570.0K
Chief Financial Officer and Executive Director
Age: 55
Total Annual Compensation: $297.0K
Compensation as of Fiscal Year 2015.

Tesco PLC Key Developments

Tesco Announces Closure of Its Edgbaston Store with the Potential Loss of 225 Jobs

Tesco announced the closure of its Edgbaston store with the potential loss of 225 jobs. The store was earmarked for closure after the High Street supermarket giant decided not to renew the lease on the premises at Ladywood Middleway, near Five Ways Island. The retailer has now launched a 45-day consultation programme with affected staff, with Usdaw union officials involved. The store is one of Tesco's longest-established outlets in the West Midlands and was opened in 1977.

Affinity, Carlyle Among 4 Shortlisted For Tesco South Korea Unit Sale

Affinity Equity Partners and The Carlyle Group LP (NasdaqGS:CG) were among four potential buyers shortlisted for the sale of Tesco PLC's South Korean unit, Home plus CO., LTD., seen worth around $6 billion, a South Korean newspaper reported. The Goldman Sachs Group, Inc., Investment Arm and MBK Partners were the other parties shortlisted for the sale, the Korea Economic Daily said, citing an unnamed investment banking source. MBK and Goldman Sachs declined comment. Spokesmen for Affinity, Carlyle and Tesco's South Korean unit could not be immediately reached.

Tesco PLC Announces the Appointment of Deloitte LLP as Auditor

Tesco PLC announced at annual general meeting held on June 26, 2015, the shareholders of the company approved the appointment of Deloitte LLP as auditors of the company.

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Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
May 1, 2015
Tesco PLC, Empty Store And Adjoining Land In Bedlington
Merger/Acquisition
April 14, 2015
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Remaining 50% stake in Tesco BL Holdings Ltd And Tesco British Land Property Partnership
 

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