French retailer Carrefour to buy 47 SuperCor stores in Spain for €60m
In a strategic move to solidify its market presence in Spain, retail giant Carrefour has inked a deal to acquire 47 SuperCor stores from El Corte Inglés. With an enterprise value of €60 million, this acquisition includes supermarkets and convenience stores primarily situated in high-profile regions such as Madrid, Catalonia, Andalucia, and Comunidad Valenciana.
Stores to Rebrand as Carrefour Market and More
Carrefour has ambitious plans to convert these newly-acquired stores into various Carrefour banners, including Carrefour Market, Carrefour Express, and Supeco. The transformation will imbue the stores with Carrefour’s strong brand equity, commercial policies, and exclusive Carrefour-branded products. This means the acquired stores are set to benefit significantly from Carrefour’s buying power and market positioning.
Carrefour’s Spanish Expansion Aligns with Strategic Goals
This transaction aims to reinforce Carrefour’s diversified store network and geographical footprint across Spain, falling perfectly in line with the retail giant’s overarching strategy. Through this acquisition, Carrefour aims to consolidate its stronghold in the Spanish retail market, giving it an edge over competitors.
The acquisition deal is still subject to standard conditions and is projected to close by the end of the first semester in 2024.