2024-01-24 14:30:05
This Wednesday, the Casino group announced to the unions that it was going to sell 288 stores, supermarkets and hypermarkets, to Intermarché and Auchan. Negotiations, which began at the end of 2023, initially covered a total of 313 stores.
The 288 stores sold valued at around 1.35 billion euros
The Casino group has signed agreements with Auchan and Les Mousquetaires/Intermarché “on the basis of an enterprise value of between 1.3 and 1.35 billion euros”, according to a press release on Wednesday. The agreements signed between these food distribution players also provide for four of the Casino group’s logistics warehouses to be taken over by its competitors, Casino specifies. The one in Aix-en-Provence must be by Auchan. “The logistics service contracts of Montélimar Frais (26), Corbas Gel (69) and Salon-de-Provence Gel (13)” must be “transferred to the Groupement Les Mousquetaires”.
More than 12,000 would be affected by a change of brand
Negotiations, which began at the end of 2023, initially covered a total of 313 stores. Within Casino, “there remain 23 stores, including seven hypermarkets, which have not been taken over and for which the future is uncertain, because there will no longer be a structure such as DCF to manage them”, notes a union representative. DCF, or Distribution Casino France, is the entity in which the French super and hypermarkets of the group are grouped, which still had 50,000 employees in France at the end of 2022.
A central social and economic committee (CSEC) is to be held on Wednesday in Saint-Etienne and the list of stores taken over should be presented on this occasion. Still controlled for a few months by its CEO and first shareholder Jean-Charles Naouri, the group in the midst of restructuring its debt must change hands by March/April and come under the control of billionaires Daniel Křetínský and Marc Ladreit de Lacharrière, backed by Attestor investment fund. The probable resale of stores to Carrefour by Intermarché, revealed Tuesday by the economic daily Les Echos, had been neither confirmed nor denied by the companies concerned.
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