The deal is expected to strengthen Intermarchés’ presence in the west at a lower cost by revitalising stores that were losing momentum. The core of Casino’s activity is located in the Ile-de-France, the Rhône-Alpes and the Provence-Alpes-Côte d’Azur. The sale will affect more than a hundred hypermarchés, supermarkets and convenience stores “in areas considered non-priority”, the group’s financial director David Lubek told a press briefing, according to Ouest-France. The deal is set to bring in €1.15 billion in turnover. At the same time, Casino will sell 100 of its stores to the Mousquetaires group (Intermarché), with which it joined forces in 2021. Two days after suspending trade on the stock market, the Casino group, which owns the brands Monoprix, Leaderprice, and Spar among others, announced that it had entered into conciliation proceedings to negotiate with its creditors.
The Casino group, which has a large presence in the Alpes Maritimes, announced on Friday that it will sell a significant number of its stores to Intermarché, France’s third largest supermarket chain.
