Carrefour has announced that it has entered into negotiations with Groupe Intermarché to acquire 31 stores.
Under the terms of the agreement, Carrefour will substitute Intermarché for the purchase of 26 stores from Casino, while the remaining five stores will be acquired directly from Intermarché.
The deal is expected to close in the second quarter of 2024.
Value Of Acquisition
These stores represent 94,000 square metres, or 0.3% of the food retail space in France.
They generated sales of around €400 million in 2022.
However, Carrefour said the value of the acquisition is not material.
Business Assets
Carrefour, which will acquire all the business assets, said it will maintain all employees working in the stores and their social benefits for a minimum period of 15 months.
It is hoped the acquired stores will benefit from the strengths of the Carrefour Group, in particular its Click & Collect and home delivery service.
Carrefour said these assets have enabled Carrefour to significantly improve sales momentum and the profitability of its activities in France over the past six years.
Romania
In October, Carrefour announced the closing of the acquisition of Louis Delhaize Group’s activities in Romania, including ten Cora hypermarkets and nine Cora Urban stores.
The French retailer said this transaction consolidates Carrefour's presence in Romania, with hypermarkets located in prime locations, which will be converted to Carrefour formats and banner.
Spain
Meanwhile, Carrefour announced in September that it had reached an agreement with El Corte Inglés to acquire 47 stores under the SuperCor banner in Spain.
The transaction perimeter includes supermarkets and convenience stores notably located in the regions of Madrid, Catalonia, Andalucia and Comunidad Valenciana.
The enterprise value of the transaction is €60 million.
