Carrefour Announces Acquisition of 47 best SuperCor Stores in Spain
Carrefour has announced its agreement with El Corte Inglés to acquire 47 stores operating under the SuperCor banner in Spain. This strategic move comes with an enterprise value of €60 million ($64.4 million), as confirmed by the French retail giant.
The acquisition encompasses a mix of supermarkets and convenience stores primarily situated in regions such as Madrid, Catalonia, Andalucia, and Comunidad Valenciana.
Carrefour’s plan involves transitioning these newly acquired stores into its own banners, including Carrefour Market, Carrefour Express, and Supeco.
The converted stores are set to benefit from its established brand identity, commercial strategies, a range of products under the Carrefour brand, and advantageous purchasing conditions, according to the retailer’s statement.
This strategic acquisition aligns with its broader strategy to solidify its position in Spain by expanding and diversifying its store network and geographical presence in the country.
Its strong performance in the first half of the year was notable, with an 11.2% increase in sales on a like-for-like basis. Additionally, reported sales grew by 8.2% during this period.
During the second quarter alone, the retailer achieved a remarkable 10.3% growth in like-for-like sales, with reported sales also rising by 4.1%.
Furthermore, It has been reported a 7.2% increase in like-for-like sales in its home market during the first half of the year, with an additional 567,000 new customers gained in comparison to the same period last year.
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