Carrefour plans to expand in northern Italy. (Photo: Carrefour Italy)
Carrefour strengthens its position in northern
(EUROPEAN UNION, 7/3/2014)
As part of its multiformat strategy, the world’s second-largest retailer and the biggest in Europe Carrefour is to strengthen its presence in northern Italy through the acquisition of 53 supermarkets under the Billa banner from the Rewe Group.
Located in Lombardy, Liguria and the Aosta Valley, the stores generated net sales of around EUR 300 million in 2013.
The retailer announced that the completion of the transaction is subject to the approval of the relevant antitrust authorities and consultations with Billa’s employee representative bodies.
Chief Executive Officer Georges Plassat told shareholders in April that Carrefour’s sales had fallen in Italy in the last two calendar years and in the first quarter of 2014 amid increased competition on price, Bloomberg reported.
Insiders believe these purchases are the CEO's attempt to fight off the rise of German discounter Lidl, reported to become Europe's largest supermarket chain by 2018, Retail Detail Europe informed.
The Billa purchase is not the retailer’s first purchase over the past six months as it had already acquired 127 South European Kléppiere stores late last year in a deal worth EUR 2 billion. Merely 10 days ago, Carrefour had also bought 800 French stores from discounter Dia for EUR 600 million, buying back part of its former subsidiary.
Present in 34 countries with more than 10,000 stores, Carrefour operates 1,116 stores in Italy including 57 hypermarkets, 407 market supermarkets, 633 express convenience stores and 19 Docks Market and Grossiper cash and carry stores.
editorial@seafood.media
www.seafood.media
Information of the company:
Address:
|
26 Quai Michelet
|
City:
|
Levallois-Perret
|
State/ZIP:
|
(92695)
|
Country:
|
France
|
Phone:
|
+33 1 556 339 00
|
Fax:
|
+33 1 556 33901
|
E-Mail:
|
info@carrefour.com
|
More about:
|
Approval / Accreditation / Certified / Oversight by...
|