Carrefour takes over 47 El Corte Inglés retail establishments for €60M

Carrefour takes over 47 El Corte Inglés retail establishments for €60M

Carrefour has announced that it has reached an agreement with El Corte Inglés to acquire 47 shops under the SuperCor brand in Spain. The perimeter of the transaction includes supermarkets and convenience stores located especially in strategic communities for Carrefour such as Madrid, Catalonia, Andalusia and Valencia. The value of the transaction is €60 million.

The Group plans to convert the acquired shops to the Carrefour Market, Carrefour Express and Supeco brands and confirms the company's commitment to expand into the supermarket format. This acquisition will enable Carrefour to develop its network of shops in winning formats. The transformed shops will benefit significantly from Carrefour's strong brand equity, commercial policy, products under the Carrefour brand and shopping conditions.

Carrefour already has recent successful experiences in such operations, such as the incorporation of 36 Eroski hypermarkets into the park or the recent integration of 127 Supersol shops in 2020. Carrefour will thus consolidate its position in Spain by further diversifying its shop network and geographic areas, in line with its strategy.

Carrefour Spain, within the Top 10 Retail Operators, is the company with the highest number of organic openings, with 44 shops in 2023 alone. With this transaction, Carrefour exceeds 1,500 shops in this country and consolidates its position as the leading multi-format and omnichannel food retailer.

The transaction is subject to customary conditions and is expected to close before the end of the first half of 2024.

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