French Retailers Auchan, Intermarché In Buying Alliance Talks
Auchan and Intermarché said they have entered talks to form a joint purchasing alliance, a week after submitting a joint bid to buy the French hypermarket and supermarket stores that debt-laden rival Casino is seeking to offload.
The long-term alliance would cover the purchase of food products from national brands as well as the purchase of non-food products, Auchan and Intermarché said in a joint statement.
Casino said last week it has received ‘preliminary indicative offers from several purchasers’ for an unspecified number of hypermarket and supermarkets it had put up for sale.
Intermarché had already agreed to buy about 61 stores from Casino in May. It has a call option, exercisable within three years, for a second group of 72 stores.
Potential Candidates
A source close to the matter told Reuters on Tuesday that at this stage “most players on the French retail market”, including Leclerc, had expressed interest in the sale process.
Potential candidates for Casino’s stores also include German discount group Lidl.
“The idea is to try to have something done in 2023,” the source said of the timetable for bids.
Last week, Auchan Retail board member Serge Papin told BFM Business that Auchan and Intermarché had submitted a joint bid for all the stores Casino is looking to sell to raise cash.
The sale of the hyper and supermarkets, if completed, would sharply reduce Casino’s size to some €8 billion in sales from €33.6 billion in 2022, halving its market share in France to around 3%, Barclays analyst Nicolas Champ estimates.
Related news
Shein unveils UK investment plans and launches ‘circularity fund’
Shein has pledged to invest £211m (€250m) over the next…
Read more >Nébih: Auchan recalled sesame paste from the market
Auchan Magyarország Kft. is recalling the Alfez Tahini sesame paste…
Read more >Lidl’s first tool sample store opens in Biatorbágy
Sorry, this entry is only available in HU.
Read more >Related news
A Hungarian specialist became Danone’s Eastern and Central European sales manager
From this July, Enikő Bolyós organizes and manages the company’s…
Read more >Recent research: almost half of Hungarians do not use sun protection cream, and moreover, they do not avoid the sun in the midday hours either
According to a recent, representative research, only 8 percent of…
Read more >The GVH fined Booking almost HUF 400 million with a record fine
Booking did not fully fulfill its obligations requiring the termination…
Read more >