Lidl France Expresses Interest In Acquiring 600 Casino And Monoprix Stores

By: Trademagazin editor Date: 2023. 07. 21. 09:35

Lidl France is believed be interested in acquiring 600 stores operating under the Casino and Monoprix banners in the country, according to media reports.

The discounter has sent a letter, signed by its managing director Kenneth Mc Grath, to the UK-based investment fund Attestor, outlining a list of 300 Monoprix and 300 Casino stores it would like to acquire, Le Monde reported.

On 15 July, EP Global Commerce a.s., Fimalac and Attestor sent a revised offer to Groupe Casino, which the retailer has decided to discuss, following 3F Holding’s decision to bow out of the race to acquire the debt-laden group.

According to a report in the publication LSA, the discounter’s interest in acquiring Casino supermarkets is not surprising considering the former’s market share.

In the first quarter of 2023, the discount channel reported a 0.4 percentage point increase in market share in France, to hold 11% of the market, according to data from Kantar.

Led by Aldi, which grew its market share to 3.0% during the quarter (a 0.2 percentage point gain), and Lidl, which now sits on 8% (a 0.1 percentage point gain), the discount channel was the fastest growing during the period.

ESM