Loading tweets...
NewPrinces Group, a multinational in the food industry, has announces that it has signed a binding agreement to acquire Carrefour’s Italian supermarkets for €1 billion ($1.17 billion).
Following its acquisition of Carrefour Italia, NewPrinces Group will become the second-largest Italian food and beverage group by revenue and the largest employer in the sector, with 13,000 direct staff in Italy and over 18,000 globally, as well as an additional 11,000 individuals involved in ancillary services supplied by external partners.
As part of the transaction, Carrefour will reinvest €237.5 million ($277.88 million) in Carrefour Italia and NewPrinces Group an additional €200 million ($234.00 million), to relaunch operations, stimulate growth and enhance competitiveness.
Commenting on the move, NewPrinces Group chairman Angelo Mastrolia said: “We have made the bold decision to invest in a strategic asset for Italy, with the aim of relaunching a widespread retail network and maximising synergies between industry and distribution. Our ambition is clear: to build a sustainable, solid and long-term model that can offer concrete benefits to customers, employees, suppliers and shareholders alike”.
Based in Italy, NewPrinces Group is a European agri-food group established following the £700 million ($896 million) merger of Newlat Food and Princes Limited.
The transaction is expected to close by the end of the third quarter of 2025, subject to regulatory approvals.
Source: NewPrinces Group / Carrefour
