Supermarket Income REIT PLC (LSE:SUPR, OTC:SUPIF)has bulked up its presence in France after snapping up a large portfolio of Carrefour supermarkets for €123 million, marking its biggest continental move to date and completing the redeployment of cash raised earlier this year. The company said it had acquired 20 supermarkets from Carrefour through a direct sale-and-leaseback agreement.
Carrefour (CRERF) is leveraging cost-cutting and private-label expansion to drive market share while doing a good job of sustaining profits. The acquisition of Cora & Match strengthens its French presence, with expected annual synergies of €130 million and more profits once lapping integration costs. The relatively new convenience store initiative has been effective in supporting LFL growth in ...
Italian food and beverage manufacturer Newprinces said on Friday it would consider other acquisitions, if the opportunity arises, after buying Carrefour's loss-making business in Italy.
Carrefour , Europe's biggest food retailer, is in exclusive talks to sell its loss-making business in Italy to NewPrinces Group, it said on Thursday, as part of a strategic review kicked off earlier this year.
Carrefour is transforming into a higher-margin, omnichannel platform, leveraging private-label growth, and cost savings to boost profitability. The market undervalues Carrefour, ignoring its retail media potential, private-label expansion, and successful cost-saving programs, despite trading at a deep discount and offering a 9% yield. Risks include fierce price competition in Europe and FX vola...
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