par CARREFOUR (EPA:CA)
Carrefour acquires 31 stores from Intermarché
Press Release 24 January 2024
Carrefour acquires 31 stores from Intermarché
Carrefour today announces that it has entered into exclusive negotiations with Groupe Intermarché to acquire 31 stores. These stores represent 94,000sqm, or 0.3% of the food retail space in France. They generated sales of around €400m million in 2022. The value of the acquisition is not material.
Under the terms of the agreement, Carrefour will substitute Intermarché for the purchase of 26 stores from Casino, while the remaining five stores will be acquired directly from Intermarché. Carrefour, which will acquire all the business assets, has committed to maintain all employees working in the stores and their social benefits for a minimum period of 15 months.
The acquired stores will benefit from the strengths of the Carrefour Group, in particular a recognized range of Carrefour-branded products, proven operational excellence and a strong e-commerce presence, both in Click & Collect and home delivery. These assets have enabled Carrefour to significantly improve its sales momentum and the profitability of its activities in France over the past 6 years.
The transaction is subject to the usual conditions precedent, notably the authorization of the French antitrust authority. Closing is expected in the second quarter of 2024.
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About the Carrefour Group
With a multi-format network of over 14,000 stores in more than 40 countries, the Carrefour Group is one of the world's leading food retailers. Carrefour posted sales of €90.8 billion in 2022. Its integrated store network employs more than 335,000 people who help to make Carrefour the world leader in the food transition for all, by offering quality food every day, accessible everywhere and at a reasonable price. In total, more than 500,000 people work under Carrefour banners worldwide. For more information, visit www.carrefour.com, or find us on Twitter (@news_carrefour) and LinkedIn (Carrefour).