Carrefour will purchase 53 Billa supermarkets in northern Italy.
The announcement comes just ten days after it was revealed that the chain will reacquire Dia France for €600 million, and represents confirmation that Carrefour is not reluctant to invest in countries in which it traded heavily in the past.
This week, the company announced that it will buy back the Rewe Group's 53 Italian outlets, which are located in three regions in the north of the country: Lombardy, Liguria and the Aosta Valley.
Together, the stores make up 58,000 square metres. They had a turnover of €300 million in 2013.
In its official statement, Carrefour explained, 'This acquisition is part of the continuity of our multiformat strategy, and will reinforce our anchorage in the north of Italy.'
The finalisation of the move is subject to approval by the relevant regulatory bodies, who will work in conjunction with Billa and Carrefour.
© 2014 European Supermarket Magazine by Peter Donnelly
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