Carrefour Spain completes 172 supermarket acquisitions from Supersol

Carrefour announces the closing of the acquisition of Supersol stores in Spain. The transaction involves 172 convenience stores and supermarkets.

The acquisition consolidates Carrefour's number two position in Spain by diversifying its store network and strengthening its presence in growth formats, in line with the Carrefour 2022 transformation plan.

This transaction is also part of the Group's targeted and value-creating acquisition policy.

Store conversions to the Carrefour banners (Express, Market and Supeco) will be completed by end-2021. Once converted, the stores will benefit from Carrefour's offer, commercial policy and purchasing conditions.

The Group plans to improve sales density and optimize the cost structure. This acquisition should translate, for Carrefour Spain, into additional EBITDA of c.50 million euros post IFRS-16 by 2023.

This acquisition will also contribute to the development of food e-commerce. Around 90% of the acquired stores are located in large cities (Madrid, Malaga, Cadiz and Seville) and will ultimately become new order pick-up points.