By John Smith • 27 August 2020 • 14:33
THE French Supermarket Group Carrefour is spending an estimated €78 million to take over 172 Supersol stores in Andalucia and Madrid.
It intends to convert them to Express or Market stores and some will become rebranded as part of its discount Supeco collection.
Many Supersol stores appear to have become ‘tired’ with little innovation or renovation and Carrefour expects to be able to improve sales and increase footfall as well as introducing pick up points for online orders.
As Spain becomes a more important market for Carrefour, this is its first major Spanish acquisition since it took over 36 Eroski outlets as long ago as 2016.
The purchase will have to receive formal approval from the regulators but it is hoped that the sale will be completed by the end of this year.
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Married to Ophelia in Gibraltar in 1978, John has spent much of his life travelling on security print and minting business and visited every continent except Antarctica.
Having retired several years ago, the couple moved to their house in Estepona and John became a regular news writer for the EWN Media Group taking particular interest in Finance, Gibraltar and Costa del Sol Social Scene.
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