France's antitrust authority has approved Groupe Casino's move to take sole control of the upmarket supermarket chain Monoprix, on condition that it sells more than 10% of its Paris-based stores.
Of around 500 stores operated by the group in the capital city, Casino has agreed to sell 55 stores - as well as three additional stores in other parts of France.
The decision follows an investigation into Casino's plans to acquire a additional 50% stake in Monoprix from its partner Galeries Lafayette. A 2012 probe revealed Casino's impressive market share in Paris - the retailer operates more than 60% of food retail sales surfaces - more than three times that of its rival Carrefour.
"To avoid risks to competitiveness, Casino has agreed to sell a substantial number of sales points," said the French watchdog. In a statement, Casino confirmed that the store disposals required equated to less than 1% of its revenue in France. At the beginning of April, Casino was operating 9,389 stores in France, 481 of which were under the Monoprix banner. (July 10)
© 2013 - ESM: European Supermarket Magazine
