The Carrefour distribution chain announced this Wednesday that it has reached an agreement with The English Court to acquire 47 SuperCor stores in Spain. The transaction scope includes supermarkets and convenience stores located especially in strategic communities for Carrefour such as Madrid, Catalonia, Andalusia and the Valencian Community. The operation has been valued at about 60 million euros.
The Group plans to convert the stores acquired to the brands Carrefour Market, Carrefour Express and Supeco and confirms the company’s commitment to expanding into the supermarket format in full competition with Mercadona and Lidl, brands with the greatest growth in Spain in recent months, according to data from the consulting firm Kantar. This is an acquisition that will allow Carrefour to develop its network of stores in booming commercial formats, such as local stores. “The transformed stores will notably benefit from Carrefour’s strong brand value, commercial policy, products under the Carrefour brand and purchasing conditions,” according to the company’s assessment.
The growth strategies of Carrefour and ECI are consistent with this operation. On the one hand, ECI is focused on generating income and focusing on an omnichannel strategy in which the local store segment does not fit much. For its part, Carrefour faces an internal transformation in which it must readjust its hypermarket model in favor of the supermarket line. The latest study by the consulting firm Kantar confirms that consumers are increasingly seeking more control in their purchasing actions, with smaller baskets. At a time when prices are the most valuable sales argument, with clear growth in private label, Carrefour has achieved a market share of almost 10% in value. Almost 60% of consumers go through grocery stores Carrefour in Spain. Experts predict that changes in purchasing habits favor the buying and selling of points of sale in the face of a consumer who sharpens his chameleon character (who buys from different brands).
Carrefour It already has recent successful experiences in operations of these characteristics, such as the incorporation of 36 Eroski hypermarkets or 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 geographical areas, in line with your strategy.
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Carrefour Spain, within the Top 10 retailers, is the company that highest number of organic openings has carried out, with 44 stores in 2023 alone. With this operation, Carrefour exceeds 1,500 stores in Spain. The transaction is subject to customary conditions and is expected to close before the end of the first half of 2024.
With a multi-format network of more than 14,000 stores in 43 countries, the Carrefour Group is one of the world’s leading food retailers. Carrefour recorded sales of 90.8 billion euros in 2022. Its integrated network of stores employs more than 335,000 people who contribute to making Carrefour the world leader in the food transition for all, offering quality food every day, accessible in all parts and at a reasonable price. In total, more than 500,000 people work under Carrefour banners around the world.