Carrefour Make Big Move To Snap Up Spanish Stores

Supermarket giant Carrefour has acquired 47 stores in Spain under the SuperCor banner from El Corte Ingles.

Carrefour is a huge name when it comes to supermarkets in Europe and, of course, they are best known for their branches in France, the country from which they originate.

They are eager to delve further into other European markets, though, and have made a play to take a bigger share of the supermarket pie in Spain, with the acquisition of 47 stores from El Corte Ingles, under the SuperCor name.

It’s a significant move from Carrefour as they bid to strengthen their presence in the Spanish market, and it’s expected that it is costing the French firm 60m euros to complete the deal.

Key details of Carrefour acquisition of Spanish supermarkets

As per, International Supermarket News, the deal will see 47 SuperCor stores in Spain join the Carrefour group for around 60m euros, with the selling party El Corte Ingles.

The 47 stores are located primarily in the regions of Madrid, Catalonia, Andalucia, and Comunidad Valenciana, which are significant for Carrefour as they are some of the most populated and economically significant regions in the entire country.

Carrefour is planning to convert the stores to carry its own names and banners, which could be any of Carrefour Market, Carrefour Express, and Supeco.

The move is seen as part of a wider strategic move from the group to further diversify and grow their share of the Spanish market, with them increasing their presence greatly with this acquisition – the deal is expected to be fully completed in early 2024.

It’s certainly an interesting move from Carrefour, who are clearly keen to push ahead with expansion plans around Europe, and they’ll be eager to see if this move in Spain can be replicated elsewhere in other countries.

Customers will also be interested to see how their local stores change, too, and will hope for fair prices on good quality products.