Global retail giant Carrefour has announced the acquisition of 172 convenience stores and supermarkets from the Spanish retail chain Supersol.
The French retailer operates 1,179 stores across the country recording a net sale of EUR 8.799million in 2019 while the total net revenue of Supersol was 450million last year.
The stores involved in the transaction are located mainly in Andalusia and the Madrid region, having an enterprise value of EUR 78 million.
According to sources, this acquisition will allow Carrefour to strengthen its position as the number two retailer in the country, improving its sales density, and optimising its cost structure.
The company intends to covert the acquired stores into convenience, supermarket, and Supeco formats.
The transaction will be subject to approval by the customary regulators and is expected to be close in the first quarter of 2021.
Sources: Business Wire