Subscribe Login
DE4CC0DE-5FC3-4494-BCBF-4D50B00366B5
Retail

Auchan Retail Sells Its Italian Subsidiary To Conad

French supermarket group Auchan Retail has agreed to sell almost all the activities of Auchan Retail Italia to Conad, the Italian co-operative retail group, for an undisclosed amount.

The news follows media reports at the weekend that suggested Auchan was preparing to offload its operations.

The French retailer had said in March that it was conducting a review of its loss-making markets, such as Italy and Vietnam where it has faced tough market conditions.

When asked about the financial terms of the deal, an Auchan spokesman said: "The business was in great difficulties. We are leaving to Conad a financial situation that will allow it to succeed with its acquisition project."

Store Count

With around 1,600 stores in Italy, Auchan Retail generated some €3.6 billion in revenue in Italy last year.

In 2017, Auchan launched a three-year plan to modernise its hypermarkets, accelerate online expansion and focus more on smaller convenience stores. It already closed 23 loss-making stores in Italy last year.

The Italian disposal will be finalised following approval from the Italian competition authority, and the sale does not apply to the 33 non-franchised supermarkets located in Sicily or the 50 Lillapois drugstores.

News by Reuters, edited by ESM. Click subscribe to sign up to ESM: European Supermarket Magazine.

Stay Connected With Our Weekly Newsletter

Processing your request...

Thanks! please check your email to confirm your subscription.

By signing up you are agreeing to our Terms & Conditions and Privacy Policy
Enjoy unlimited digital access for 30 days
Get exclusive access to the latest grocery retail & FMCG news, interviews with industry leading executives, and expert analysis on the trends shaping the sector today
Enjoy unlimited digital access for 30 days
Enjoy unlimited digital access for 30 days
Get exclusive access to the latest grocery retail & FMCG news, interviews with industry leading executives, and expert analysis on the trends shaping the sector today
Enjoy unlimited digital access for 30 days