The transaction involves 172 convenience stores and supermarkets, located mainly in Andalusia and the Madrid region. The enterprise value of the transaction is 78 million euros.
The acquired stores posted net sales of around 450 million euros in 2019.
Carrefour plans to convert the acquired stores to the convenience (Express), supermarket (Market) and Supeco formats.
This acquisition will contribute to the development of food e-commerce, with the stores eventually becoming new order pick-up points.
Around 90% of the acquired stores are located in large cities (Madrid, Malaga, Cadiz and Seville).
The transaction is subject to customary conditions and is expected to close at the beginning of 2021.