2023-10-02 06:09:57
The two food distribution specialists agreed in May on a sale of 119 stores in two waves, with an optional third of around sixty stores.
As planned, Casino officially transferred 61 stores to Intermarché during the weekend, announced the two groups, citing an “enterprise value of 209 million euros including service stations” for this transfer.
The two food distribution specialists, respectively the seventh and third players in the sector, agreed in May on a sale of 119 stores in two waves (4,000 employees), with an optional third of around sixty stores.
Two waves
For the Casino group, this involves reducing its abysmal debt a little.
The sold stores are distributed throughout the territory, with a larger number in the south-west and east of France, on an axis going from Charleville-Mézières in the Ardennes to Bernis in the Gard via Firminy in the Loire, not far from the historic headquarters of the brand founded 125 years ago by Geoffroy Guichard in Saint-Etienne.
The stores in the second wave of sales (around sixty) will be sold “in the next three years”, the management of the Casino brands told AFP in mid-September, “in accordance with the agreements concluded with Intermarché”. Around four thousand employees are affected by the two planned transfer waves.
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