Key Stats
Tesco Plc operates as the United Kingdom’s largest food retailer and one of the world’s leading multinational grocery chains. The company provides a comprehensive range of food, non-food products, and retail banking services through various store formats across multiple countries. Founded in 1919 by Jack Cohen, Tesco has evolved from a single market stall in East London into a retail powerhouse serving millions of customers daily. The retailer operates supermarkets, convenience stores, and hypermarkets while offering online shopping services and financial products through Tesco Bank.
Tesco History
Tesco Co-founders
Tesco Marketcap
Tesco maintains a market capitalization of approximately £28 billion as of October 2025, positioning it among the United Kingdom’s most valuable publicly traded companies and demonstrating sustained investor confidence.
Tesco Revenue
The company generated annual revenue of $89.1 billion in fiscal year 2025, representing consistent growth driven by strong UK performance, digital expansion, and operational efficiency improvements across all business segments.
Tesco Acquisitions
Tesco has executed numerous strategic acquisitions throughout its history to expand market presence and capabilities. During the 1950s and 1960s, the company grew organically and through purchases of 70 Williamson’s stores in 1957, 200 Harrow Stores outlets in 1959, and 212 Irwins stores in 1960. The company acquired 97 Charles Phillips stores in 1964 and the Victor Value chain in 1968.
In 1987, Tesco completed a hostile takeover of the Hillards chain, adding 40 supermarkets in Northern England for £220 million. The 1994 acquisition of William Low brought 57 stores and strengthened Tesco’s presence in Scotland, successfully outbidding Sainsbury’s for control of the Dundee-based firm. In 1997, Tesco purchased the retail arm of Associated British Foods for £640 million, including Quinnsworth, Stewarts, and Crazy Prices chains in Ireland and Northern Ireland.
The international expansion phase saw Tesco purchase 13 HIT hypermarkets in Poland in 2002 and acquire T&S Stores in the same year, bringing 870 convenience stores under the One Stop, Dillons, and Day & Nite brands. In 2003, Tesco purchased the C Two-Network in Japan and acquired a majority stake in Turkish supermarket chain Kipa. The company acquired Adminstore in 2004, adding 45 Cullens, Europa, and Harts convenience stores in London.
More recent acquisitions include the 2005 purchase of 21 Safeway BP stores from Morrisons and an 80 percent stake in Casino’s Leader Price supermarkets in Poland in 2006. The landmark 2018 acquisition of Booker Group for £4 billion marked Tesco’s largest purchase, providing exposure to cash-and-carry wholesale operations and strengthening the out-of-home food service sector presence.
Tesco Competitors
Tesco faces intense competition in the UK grocery market from traditional supermarkets and discount retailers. The competitive landscape has evolved significantly with the rise of German discounters challenging established players.
| Competitor | Market Share | Headquarters |
|---|---|---|
| Sainsbury’s | 15.9% | London, UK |
| Asda | 12.6% | Leeds, UK |
| Aldi | 10.4% | Essen, Germany |
| Morrisons | 9.1% | Bradford, UK |
| Lidl | 8.1% | Neckarsulm, Germany |
| Co-op | 5.8% | Manchester, UK |
| Marks & Spencer | 3.5% | London, UK |
| Waitrose | 4.5% | Bracknell, UK |
| Iceland | 2.3% | Deeside, UK |
| Amazon Fresh | 3.9% | Seattle, USA |
FAQs
When was Tesco founded and by whom?
Tesco was founded in 1919 by Jack Cohen, who started selling surplus groceries from a market stall in Hackney, East London. The Tesco brand name first appeared in 1924.
What is Tesco market share in the UK?
Tesco holds 28.5 percent market share in the United Kingdom grocery sector as of 2025, making it the country’s largest food retailer by significant margin over competitors.
How much revenue does Tesco generate annually?
Tesco generated annual revenue of $89.1 billion in fiscal year 2025, representing consistent growth driven by UK performance, digital expansion, and operational improvements across business segments.
What services does Tesco Bank provide?
Tesco Bank offers retail banking and insurance services including credit cards, personal loans, savings accounts, mortgages, car insurance, home insurance, travel insurance, and pet insurance to UK customers.
How many stores does Tesco operate?
Tesco operates over 4,600 stores across the United Kingdom, Republic of Ireland, Czech Republic, Slovakia, and Hungary, employing more than 341,000 people worldwide in various retail formats.