Casino, the French supermarket group, has announced the signature of a unilateral purchase agreement to sell Vindemia, the leading retailer in the Indian Ocean (Reunion Island, Madagascar, Mayotte, Mauritius), to the autmotive and retail business GBH for an enterprise value of €219 million ($244 million).
Founded in 1972 on Reunion Island and gradually acquired by Casino between 2001 and 2007, Vindemia is said to have multi-format positioning comprising hypermarkets, supermarkets, cash and carry and convenience stores.
“With this agreement, Vindémia’s activities will continue and develop within GBH’s Retail division”, Casino said in a statement.
GBH’s mass retail division is organised primarily around Carrefour hypermarkets, Mr Bricolage DIY stores and Decathlon sports stores. Today, the firm owns 11 Carrefour stores in Guadeloupe, French Guiana, Reunion Island, Martinique and the Dominican Republic, and is also established in New Caledonia with Geant, Casino and Leader Price.
Source: Casino (via Globe Newswire) / GBH