The French retail giant Carrefour is doing a good deal since this purchase only cost 78 million euros and allows the company to become the second-largest retailer in the country.

The French supermarket chain Carrefour is greatly strengthening its positioning in Spain. The group has announced the acquisition of 172 shops in the country, from the Supersol brand. Most of these are in “major cities”, mainly in Andalusia and the Madrid region.

This takeover will happen “under attractive conditions”, according to the press release. In fact, they value the transaction at €78 million, almost for a crust of bread.

The convenience stores and supermarkets acquired have generated €450 million in pre-tax sales in 2019.

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Strong performance for Carrefour in Spain

Once the deal is completed (early 2021), Carrefour intends to convert the shops “to convenience (Express), supermarkets (Market) and Supeco”, it says.

This move comes as no surprise, as Carrefour has recorded excellent results in Spain.

In Spain, in the first half of the year, its sales grew by 9.8%. Meanwhile, in France, it was virtually stable at +0.7% with sales down 3.6% in hypermarkets especially, as the concept is running out of steam.

With these 172 extra shops in its purse, the French retailer becomes the number two of the sector in the country.