Dünya – Dubai-based private equity investor Abraaj Group has acquired 25 percent of Turkey’s largest online retailer, Hepsiburada.com, from its parent company, Dogan Online of Dogan Group.
The undisclosed investment by Abraaj Capital will hasten the company’s operational expansions in IT, CRM, and mobile shopping departments. Hepsiburada.com will open a new warehouse this year in Gebze, Kocaeli, slated to be the largest of its kind in Turkey, which is designed and built for e-commerce operations.
Having reported TRY 1 billion in sales in 2014, Hepsiburada.com serves over 15 million visitors monthly, offering 500,000 products, from computers to toilet paper.
Abraaj Capital has been active in Turkey since 2007, and has invested in Turkish companies in a number of sectors, including healthcare, food, energy consultancy, and yacht building.
Another Gulf-based equity investor, Bahrain’s Investcorp, announced the acquisition of majority stakes in Arvento Mobile Systems, a Turkish telematics company, a few weeks ago. The value of the transaction was not disclosed.
A fast grower in e-commerce, Turkey has an internet user base of nearly 40 million people, according to data by the country’s Information and Communication Technologies Authority (BTK).