Carrefour has reached an agreement to purchase 172 stores under the SuperSol banner in Spain, in a move that it claims will strengthen its number two position in the country.
The deal, which involves convenience stores and supermarkets located mainly in Andalusia and the Madrid region, has an enterprise value of €78 million.
According to Carrefour, the acquired stores posted net sales of around €450 million in 2019.
Following the transaction, Carrefour plans to convert the acquired stores to convenience and supermarket formats under its Express and Market banners, respectively, as well as to its Spanish discounter Supeco format.
Carrefour says the deal will consolidate its position in Spain by diversifying its store network and strengthening its presence in growth formats. This is reportedly in line with the company’s strategy underpinning the Carrefour 2022 transformation plan.
According to Carrefour, the stores will eventually become new order pick-up points, contributing to the development of the company’s ecommerce business. Around 90% of the acquired stores are located in large cities including Madrid, Malaga, Cadiz and Seville.
The deal follows a series of acquisitions by Carrefour this year including supermarket chain operator Wellcome Taiwan for €97 million, 30 Makro stores for $450 million, as well as fruit and vegetable box distributor Potager City, and Dejbox, a lunch delivery service.
The transaction is subject to customary conditions and is expected to close at the beginning of 2021.
© FoodBev Media Ltd 2020