Carrefour : strengthens its position in Spain with the acquisition of 47 supermarkets and convenience stores

September 20th, 2023

Carrefour strengthens its position in Spain with the acquisition

of 47 supermarkets and convenience stores

Carrefour announces today that it has reached an agreement with El Corte Inglés to acquire 47 stores under the SuperCor banner in Spain. The transaction perimeter includes supermarkets and convenience stores notably located in the regions of Madrid, Catalonia, Andalucia and Comunidad Valenciana. The enterprise value of the transaction is 60 million euros.

The Group plans to convert the acquired stores to the Carrefour Market, Carrefour Express and Supeco banners. The converted stores will notably benefit from Carrefour's strong brand equity, commercial policy, products under Carrefour brand and purchasing conditions.

Carrefour will thus consolidate its position in Spain by further diversifying its store network and geographical footprint in the country, in line with its strategy.

The transaction is subject to customary conditions and is expected to close before the end of the first semester 2024.

About Carrefour Group

With a multi-format network of over 14,000 stores in 43 countries, the Carrefour Group is one of the world's leading food retailers. Carrefour posted sales of €90.8 billion in 2022. Its integrated store network employs more than 335,000 people who help to make Carrefour the world leader in the food transition for all, by offering quality food every day, accessible everywhere and at a reasonable price. In total, more than 500,000 people work under Carrefour banners worldwide. For more information, visit www.carrefour.com, or find us on Twitter (@news_carrefour) and LinkedIn (Carrefour).

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