Carrefour buys Cora and Match to catch up with E.Leclerc

Cora, with 60 hypermarkets, and Match, with 113 supermarkets, are mainly present in the north and east of France. Marc Demeure/PHOTOPQR/VOICE DU NORTH/MAXPPP

The group makes its biggest acquisition in France for twenty years.

Carrefour is well and truly on the offensive to participate in the consolidation of the French market for agri-food distribution. If it did not enter the dance of the contenders for the recapitalization of Casino, the group led by Alexandre Bompard is about to make its biggest acquisition in France for twenty years. Carrefour (90.8 billion euros in turnover, including 42 billion in France) announced on Wednesday evening an agreement with the Belgian distributor Louis Delhaize with a view to buying its Cora and Match brands for 1.05 billion euros. . The 60 Cora hypermarkets and 113 Match supermarkets in France achieved a turnover of 4.3 billion euros last year and generated a solid EBITDA margin of 4.4%.

The operation, which should be finalized within a year, allows Carrefour to do a double blow. On the one hand, the group will once again be on a par with its great rival E.Leclerc, who had stolen the French leader’s position from it in 2017. In 2022, Leclerc…

This article is for subscribers only. You have 77% left to discover.

Want to read more?

Unlock all items immediately.

Already subscribed?

Source link

Leave a Reply