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Carrefour to Acquire 172 stores in Spain for 92.7 Million Dollars

Carrefour to Acquire 172 stores in Spain for 92.7 Million Dollars

Monday, August 31st, 2020

The French retailer has gained a leg-up on its competitors recently with a 78M euros (approximately 92.7M USD) acquisition. Carrefour is bolstering its global presence and accelerating its expansion with the acquisition of 172 stores under the Supersol banner in Spain, thereby strengthening its position in the country.

Carrefour’s new strategy includes converting the acquired stores to the convenience (Express), supermarket (Market), and Supeco formats, according to a press release. Aligning with the Carrefour 2022 transformation plan, the company will be able to consolidate its position in Spain by diversifying its store network and strengthening its presence in growing formats.

International presence Carrefour recently reached an agreement to acquire 172 stores under Spain's Supersol banner, a deal valued at 78 million euros (approximately 92.7M USD)

The 172 convenience stores and supermarkets are mainly located in Andalusia and the Madrid region. Additional goals included Carrefour improving sales density and optimizing the cost structure. The company also notes that this move will contribute to the development of food e-commerce, with the stores eventually becoming new order pick-up points.

It is expected this transaction will close at the beginning of 2021 and is subject to customary conditions.

With these major developments being made internationally, how will the retail landscape change, especially here in the U.S.? Deli Market News will keep a pulse on the newswire and report on the latest.