Carrefour buys Cora Romania from Louis Delhaize

By: Trademagazin editor Date: 2023. 05. 04. 09:00

Carrefour has acquired the eighteen Romanian Cora stores from Louis Delhaize. The two parties have reached an agreement today, Carrefour confirms to our editors.

After a strategic review, Louis Delhaize is leaving Romania. The Belgian retailer had ten hypermarkets and eight convenience stores left in the country, but has now decided to sell them all to its French competitor Carrefour.

Cora Romania employs nearly 2,400 people and includes central services, e-commerce and logistics on top of the eighteen stores. “As the Carrefour Group is already present in Romania, employees will be able to join a brand that is well established in the country and has significant resources to strengthen its position”, a press statement said.

Cora is the only retailer in Romania that has shrunk since the Covid pandemic. In 2021, sales were down by 5 % compared to 2020, and the company also recorded losses. In 2021, the retail holding company already sold the real estate of the hypermarkets, which it then leased back from the new owner.

In contrast, Carrefour Romania grew by 9 % in 2022 and is almost ten times the size of Cora. For Carrefour, Romania is the second best growth market after Poland. However, the full divestiture still needs to be approved by the competition authorities.

The change of control is expected to become effective in the second half of 2023.

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