Will Tesco disappear from Slovak cities? Officially, not yet, but the British retailer has made the most serious step toward selling in all years of rumors: it hired investment banks Citigroup and Goldman Sachs to prepare the deal. As Košický denník Korzár writes, citing the Czech publication e15 and the Mergermarket agency, a detailed information memorandum is already being sent to potential buyers.
This news directly concerns Ukrainians in Slovakia. Tesco is one of the largest employers in the country, where many of our compatriots work, and the network where about half of the cities shop. If you are currently looking for a job in retail or already work in the network, follow the situation — read more about the labor market in our section work in Slovakia.
What exactly is being sold
Tesco plans to split its Central European business into two packages. The Czech and Slovak (together 363 stores) will go as one lot, the Hungarian (198 stores) separately. According to the company's official data for February 2026, there were 182 stores in Slovakia and 184 in the Czech Republic. In total, more than 22 thousand people are employed in the network across the three countries in the region.
The sale itself is not yet officially confirmed — neither Tesco nor the banks comment on the situation. But hiring bankers of this level means the process has moved from the "considering" phase to the "preparing documents" phase. The first rumors about a possible exit were published by Financial Times in early July.
Slovak business is declining in numbers
Financial indicators explain why Slovakia is being sold together with the Czech Republic, not separately:
- Slovakia: revenue is stable at 1.7 billion euros, but operating profit (EBITDA) is falling — from 120 million euros last year to a forecasted 100 million this year.
- Czech Republic: revenue is growing from 1.6 to 1.8 billion euros, EBITDA is stable at 75 million euros.
The network's problem is heterogeneity: from small shops to huge hypermarkets. Managing such a zoo of formats is more difficult and expensive than a standardized network like Lidl. Plus competition: Lidl and Kaufland are taking market share, and part of the purchases after the pandemic have gone to online stores.
Who can buy
Among the candidates are the German Schwarz Group (owner of Lidl and Kaufland) and the Polish Biedronka, which analysts at AlphaValue consider the "natural successor" to Tesco in Slovakia — it already has 17 stores here. But both options have obstacles:
- Schwarz Group may not pass antitrust review — Lidl and Kaufland already dominate the market.
- For Biedronka, the price of the entire package may be too high.
Only the Czech business is valued at 10–15 billion Czech crowns (about 620 million euros), writes Startitup. It is possible that the network will be divided among several buyers by store formats.
What this means for you
For now — nothing urgent. A sale at this stage takes months, sometimes a year or two. Stores operate as usual, and no one closes "from Monday."
But it is better to understand possible scenarios. If the buyer is Schwarz Group or Biedronka, Tesco stores will most likely be gradually renamed and reprofiled — with the assortment and pricing policy of the new owner. For employees, a change of owner usually means a review of the structure: some positions (especially in management and logistics) may be cut, although the new owner usually keeps salespeople on the floor.
Globally, this is part of Tesco's long strategy: the company has already left Poland, South Korea, Thailand, and Malaysia to focus on the UK and Ireland. Slovakia seems to be next in line. If a specific buyer appears — we will write about it.
