Carrefour to buy 47 Supercor stores in Spain

Carrefour announced on Wednesday that it had reached an agreement with Spanish shopping centre and supermarket chain El Corte Inglés to buy 47 SuperCor stores in several regions of Spain, for an enterprise value of 60 million euros. "The scope of the transaction includes supermarkets and convenience stores located in particular in the regions of Madrid, Catalonia, Andalusia and Valencia," said the French retailer, already present in Spain, in a statement.

The stores will be transformed into Carrefour Market, Carrefour Express and Supeco. "Carrefour is thus consolidating its position in Spain by diversifying its store network and its geographical presence in the country," adds the French group, which has more than 14,000 stores in 43 countries for a 2022 turnover of 90.8 billion euros.

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The acquisition is expected to close "before the end of the first half of 2024". This announcement comes at a time when the French distribution sector has its eyes riveted on the setbacks of Casino and in particular the restructuring of its colossal debt. The operation is smaller than the acquisition of the Cora and Match brands in France announced by Carrefour last July, in a context of increased competition between the brands in France. This announcement concerned 60 hypermarkets and 115 supermarkets for a total of 24,000 employees, an enterprise value of 1.05 billion euros and just over 5.2 billion euros in turnover (excluding tax) in 2022.