Latest news with #CarrefourItaly
Yahoo
4 days ago
- Business
- Yahoo
Carrefour sells Italian supermarkets to NewPrinces for €1 billion
Carrefour supermarkets in Italy will soon be in the hands of Italian food multinational NewPrinces Spa, who announced the roughly one billion euro purchase on Thursday. The NewPrinces group owns the Plasmon, Centrale del Latte, Giglio, Polenghi Lombardo and Delverde food manufacturing brands, among others. The acquisition of approximately one thousand shops now requires authorisation from the relevant authorities, with a view to closing by the end of the year with Carrefour Nederland Bv and Carrefour Sa. With this transaction, the Reggio Emilia-based company reaches a potential turnover of 11 billion euros, becoming the second-largest Italian group in the food sector by turnover and the largest operator in terms of employment, with 13,000 employees in Italy and more than 18,000 worldwide, as well as 11,000 in related industries. "The acquisition of Carrefour Italia represents a fundamental step in the growth trajectory of our Group," said NewPrinces Group Chairman Angelo Mastrolia, "with this operation, we take a decisive step towards vertical integration between production and distribution, strengthening our ability to generate value along the entire supply chain." NewPrinces may decide to relaunch the Gs supermarket brand and rename the stores after three years. The food retailer was founded in Italy in the 1960s and was replaced by Carrefour stores in 2010. Related Approved: Paramount's $8 billion deal with Skydance can go ahead Exclusive: Chinese electric carmaker Zeekr eyes pan-European growth despite tariffs, acting CEO says Unrest proclaimed among Carrefour workers After the news of the takeover, the trade unions Filcams CGIL, Fisascat Cisl and Uiltucs declared a state of strike due to Carrefour Italy's failure to respond regarding the workers' prospects. The unions have asked for a meeting at the Ministry of Enterprise and Made in Italy to 'review the recovery plan', which is expected to include brand and development investments totalling more than €400 million between the seller and buyer. Minister Adolfo Urso expressed his "appreciation for an operation that strengthens Made in Italy," confirming that he will soon meet both Mastrolia and the unions. The French newspaper Les Echos commented on the news, writing that Carrefour 'removes a thorn from its foot', as its Italian operations were recording annual losses of €180 million. Carrefour president, Alexandre Bompard, assured the newspaper that he was leaving "Carrefour Italy in good financial condition."
Euronews
5 days ago
- Business
- Euronews
Carrefour sells Italian supermarkets to NewPrinces for €1 billion
Carrefour supermarkets in Italy will soon be in the hands of Italian food multinational NewPrinces Spa, who announced the roughly one billion euro purchase on Thursday. The NewPrinces group owns the Plasmon, Centrale del Latte, Giglio, Polenghi Lombardo and Delverde food manufacturing brands, among others. The acquisition of approximately one thousand shops now requires authorisation from the relevant authorities, with a view to closing by the end of the year with Carrefour Nederland Bv and Carrefour Sa. With this transaction, the Reggio Emilia-based company reaches a potential turnover of 11 billion euros, becoming the second-largest Italian group in the food sector by turnover and the largest operator in terms of employment, with 13,000 employees in Italy and more than 18,000 worldwide, as well as 11,000 in related industries. "The acquisition of Carrefour Italia represents a fundamental step in the growth trajectory of our Group," said NewPrinces Group Chairman Angelo Mastrolia, "with this operation, we take a decisive step towards vertical integration between production and distribution, strengthening our ability to generate value along the entire supply chain." NewPrinces may decide to relaunch the Gs supermarket brand and rename the stores after three years. The food retailer was founded in Italy in the 1960s and was replaced by Carrefour stores in 2010. Unrest proclaimed among Carrefour workers After the news of the takeover, the trade unions Filcams CGIL, Fisascat Cisl and Uiltucs declared a state of strike due to Carrefour Italy's failure to respond regarding the workers' prospects. The unions have asked for a meeting at the Ministry of Enterprise and Made in Italy to 'review the recovery plan', which is expected to include brand and development investments totalling more than €400 million between the seller and buyer. Minister Adolfo Urso expressed his "appreciation for an operation that strengthens Made in Italy," confirming that he will soon meet both Mastrolia and the unions. The French newspaper Les Echos commented on the news, writing that Carrefour 'removes a thorn from its foot', as its Italian operations were recording annual losses of €180 million. Carrefour president, Alexandre Bompard, assured the newspaper that he was leaving "Carrefour Italy in good financial condition."
Reuters
5 days ago
- Business
- Reuters
Carrefour to sell Italy business, reports improving sales growth
LONDON, July 24 (Reuters) - Carrefour ( opens new tab, Europe's biggest food retailer, has agreed to sell its loss-making business in Italy to food and drinks manufacturer NewPrinces Group ( opens new tab as part of a strategic review kicked off earlier this year. The sale of Carrefour Italy, which operates 1,188 stores but made a 67 million euro ($78.85 million) operating loss last year, will help boost Carrefour's growth, profitability and cash generation, the French-based retailer said in a statement. The deal gives Carrefour Italy an enterprise value of around 1 billion euros, Italy-based NewPrinces Group said in a separate statement, and should close by the end of the third quarter subject to regulatory approval. Carrefour also reported stronger second-quarter sales as price cuts helped to attract more inflation-weary shoppers particularly in France, its biggest market. Overall, Carrefour's second-quarter sales grew 4.4% on a like-for-like basis from a year earlier, building on 2.9% growth in the first quarter. In France, like-for-like sales returned to growth for the first time since 2023, up 2.1% compared to a year ago. "Volumes declined at a historic rate after the wave of hyperinflation in 2022 and 2023, but we are seeing a gradual recovery in purchasing power, which is evidenced by volumes increasing [in the second quarter]," Chief Financial Officer Matthieu Malige told journalists on a call. Carrefour plans to keep lowering prices in the second half as it tries to keep improving its competitive position, Malige added. The group's first-half sales totalled 46.559 billion euros, up from 44.863 billion euros a year earlier. "Carrefour's business saw a clear acceleration in the first half of 2025, driven by the momentum in its three core countries: France, Spain, and Brazil," Carrefour CEO Alexandre Bompard said in a statement. However, Carrefour's profitability remained under pressure, with its first-half operating margin falling to 1.6% from 1.8% a year ago. ($1 = 0.8498 euros)
