Louis Delhaize exits France, sells stores to Carrefour
Ailing Belgian supermarket group Louis Delhaize has sold its 175 French shops to Carrefour.
Good deal for Carrefour
Carrefour has paid 1.05 billion euros for the 60 Cora hypermarkets and 115 supermarkets of the Match enseigne, whose 24,000 employees turn over 5.2 billion euros – more than two-thirds of Louis Delhaize’s group sales. Carrefour is also taking over the real estate of 55 hypermarkets and 77 supermarkets.
For Carrefour, it says it is a very interesting deal because there is a “very strong geographical complementary”: Cora and Match are particularly strong in the northern regions closer to the Belgian border, where Carrefour is “relatively weak”.
Synergies
Carrefour hopes the merger will generate 110 million euros in annual synergy benefits. Half of that should come from optimising omnichannel costs, the other half thanks to a better distribution and marketing cost optimisation.
The French competition authorities still have to approve the acquisition. If they do, the two retailers involved hope to complete the acquisition by next summer.
Related news
Carrefour sells Italian branch to NewPrinces Group
Carrefour has entered into a binding agreement with NewPrinces Group…
Read more >Albert Heijn discloses methane emissions in “world first” move
The grocery chain revealed its methane emissions accounted for approximately…
Read more >More than a million people have signed a petition against a law reintroducing a pesticide
A petition calling for the repeal of a law that…
Read more >Related news
Carrefour sells Italian branch to NewPrinces Group
Carrefour has entered into a binding agreement with NewPrinces Group…
Read more >