Carrefour has announced that it has reached an agreement with El Corte Inglés to acquire 47 stores under the SuperCor brand in Spain.
The deal includes supermarkets and convenience stores located especially in strategic communities for Carrefour such as Madrid, Catalonia, Andalusia and the Valencian Community. The enterprise value of the transaction is 60 million euro.
The Group plans to convert the stores acquired to the Carrefour Market, Carrefour Express and Supeco brands and confirms the company’s commitment to expanding into the supermarket format. This is an acquisition that will allow Carrefour to develop its network of stores in winning formats. The transformed stores will significantly benefit from the strong brand value, commercial policy, products under the Carrefour brand and Carrefour’s purchasing conditions.
Carrefour already has recent successful experiences in operations of these characteristics, such as the incorporation of 36 Eroski hypermarkets and the recent integration of 127 Supersol stores in 2020. Carrefour will thus consolidate its position in Spain by further diversifying its network of stores and areas geographical, in line with its strategy.
Carrefour Spain, within the Top 10 Retail Operators, is the company that has made the greatest number of organic openings, with 44 stores in 2023 alone. With this operation, Carrefour exceeds 1,500 stores in the country and consolidates itself as the leading food retailer. multiformat and omnichannel leader.
The transaction is subject to customary conditions and is expected to close before the end of the first half of 2024.