Carrefour: acquires stores in Brazil
(CercleFinance.com) - Carrefour has announced that it has reached an agreement to acquire 30 Cash and Carry stores in Brazil (including the premises of 22 fully owned stores and 14 rented stores), in addition to 14 service stations, for a price of 1.
95 billion reais (c. 420 million euros), paid in cash.
These 30 stores, which have a total surface area of over 165,000 m2, reported total sales of about 2.8 billion reais (c. 620 million euros) in 2019. Carrefour says they offer a high degree of geographical complementarity with the existing Atacadeo network.
Carrefour plans to convert these stores to its Atacado brand within 12 months of the transaction, which remains subject to certain customary conditions, including approval from lessors and the Brazilian competition authority.
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