Argan Capital Advisors LLP
15-17 Grosvenor Gardens
London
SW1W 0BD
United Kingdom
Tel: +44 (0)20 7647 6970
Fax: +44 (0)20 7647 6999
Argan Capital Advisors LLP is authorised and regulated by The Financial Services Authority
BIM
In 1999, Argan team members invested in BIM, one of Turkey's leading food retail chains. Over the period of the ownership, the company successfully extended its footprint from less than 500 stores to a retail network of over 1,000 stores in all main urban regions and with revenues in excess of $1 billion. This positions BIM as the clear market leader in the "hard-discount" retail sector and the third largest food retailer in Turkey.
The company's strong growth was driven by a rebalancing of market share from small family-owned stores to professionally managed and better organised retail platforms. BIM's strategy capitalises on this trend by keeping costs at an absolute minimum without sacrificing either the quality of the merchandise or basic store cleanliness. Having worked with management to profitably extend the reach of the business, BIM was listed on the Istanbul exchange in July 2005 allowing for a successful realisation of the investment.
