Carrefour has announced it has completed the sale of its 60% stake in Carrefour Taiwan to Uni-President.
The French retailer said this operation completes the group's refocusing on its two key markets, Europe and Latin America.
The price for the sale of 60% of Carrefour Taiwan shares is around €1 billion, the retailer said.
Carrefour Taiwan
Carrefour Taiwan was founded in 1987 as a joint venture between Carrefour and Uni-President, and currently boasts a network of 340 stores, including 68 hypermarkets and 272 supermarkets, as well as 129 shopping malls.
The business generated revenue of €2.5 billion in 2021, along with EBITDA of €243 million.
'Geographic Rebalancing'
Last year, Carrefour announced it would sell its 60% stake in Carrefour Taiwan to its long-time partner and co-shareholder, Uni-President.
At the time, the retailer said the move was part of Carrefour's 'geographic rebalancing', and followed on from its acquisition of Grupo BIG in Brazil, which strengthened its focus on Europe and Latin America.
Unlimitail
Elsewhere, last month, Carrefour Group and Publicis Groupe launched a joint-venture named Unlimitail to address the retail media market in Continental Europe, Brazil and Argentina.
The launch of the company came six months after the initiative was announced and was unveiled during VivaTech, the European startup and technology conference held annually in Paris.
Unlimitail aims to bring to Europe and Latin America the same scale, connectivity and consistency that is enabling the retail media boom in the US.
Carrefour said that by combining the market's most advanced technologies, ‘CitrusAd powered by Epsilon’, with Carrefour retail media knowledge and expertise, the new venture will establish a comprehensive media player that addresses the entire retail media value chain across Continental Europe, Brazil and Argentina.
© 2023 European Supermarket Magazine – your source for the latest Retail news. Article by Robert McHugh. Click subscribe to sign up to ESM: European Supermarket Magazine.
