Carrefour has initiated exclusive talks with Groupe Intermarché to purchase 31 stores in France, encompassing a total area of 94,000 square meters, which accounts for 0.3% of the nation's food retail space.
These outlets collectively reported sales of approximately €400 million in 2022. The acquisition's financial impact on Carrefour is considered minimal.
Details of the Store Acquisition
Carrefour intends to acquire all business assets of these stores and has vowed to retain all current employees
According to the agreement, Carrefour will take over Intermarché's acquisition of 26 stores from Casino, while the remaining five will be obtained directly from Intermarché.
Carrefour intends to acquire all business assets of these stores and has vowed to retain all current employees and their social benefits for at least 15 months.
Carrefour's Strategic Advantages
The newly acquired stores will leverage Carrefour Group's well-established strengths, including a broad range of proprietary products, operational efficiency, and a robust online sales platform offering Click & Collect and home delivery services.
These strategies have bolstered Carrefour’s sales growth and profitability in France significantly over the last six years.
Regulatory Approval and Timeline
The deal is subject to standard conditions, especially the approval from the French antitrust authority. Finalization of the transaction is projected for the second quarter of 2024.
