Carrefour will sell its Colombian operation to Chilean group Cencosud for €2 billion, it has announced. The France-based retailer's divestment of its Colombian arm is in line with its new strategy of focusing on geographies and countries in which it holds, or aims to develop a leading position.
Carrefour first entered the South American country in 1998, and its total net sales for the year ending June 2012, were €1.5 billion. The deal, due to come into effect by the end of the year, will gain Cencosud 72 hypermarkets, 16 convenience stores and four cash and carries in the country.
Cencosud is a leading retailer in Latin America, with operations in Chile, Brazil, Peru, Argentina and Colombia. It operates 800 stores, including 684 supermarkets and 25 shopping centres, with revenues of 7.569 trillion Chilean pesos (about €12.3 billion), and 130,000 employees. (19 Oct)
© 2012 - ESM: European Supermarket Magazine
