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Carrefour's acquisition of the Cora and Match stores, sold by the Belgian group Louis Delhaize, will be a turning point in the French food distribution landscape. This transaction, announced on July 1st and finalized for an amount of 1.05 billion euros, represents Carrefour's largest acquisition since the acquisition of Promodès in 1999, according to CEO Alexandre Bompard.
2.4% of the food distribution market
The scale of this transaction is considerable: it concerns 60 Cora hypermarkets and 115 Match supermarkets, mainly located in the north-eastern quarter of France. These brands represent approximately 2.4% of the French food distribution market, a sector which is known to be competitive. In addition, this acquisition integrates 22,000 employees into Carrefour's workforce, which will have a significant social impact.
Cora devient Carrefour !
Nos équipes magasins se préparent, et nous aussi 😉
Ce compte va bientôt fermer, mais on vous attend avec impatience sur @CarrefourFrance
On vous y réserve plein de surprises 🤗 pic.twitter.com/gShYqF9Tfz— Cora France (@CoraFrance) September 30, 2024
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The process of integrating Cora stores under the Carrefour bannerhas been carefully planned: it will take place in three distinct phases and it began on October 1st. The first wave involved 19 stores, then it will be followed by a second wave of 20 stores from mid-October and finally a final phase of 21 stores from the end of October. Hypermarkets will remain open during this transition period. In other words, at the end of the month, the Cora brand will no longer exist.
On the other hand, Match supermarkets will keep their name: the Carrefour group wants to capitalize on the local reputation of the Match brand.
This acquisition strengthens Carrefour's position on the French market: it allows the group to consolidate its second place behind E.Leclerc, which is the market leader with almost a quarter of the market share. Carrefour is thus ahead of Les Mousquetaires/Intermarché, which have also recently strengthened their presence by purchasing several stores from the Casino group a few months ago.
This operation is part of a context of concentration in the distribution market in France, where large groups are seeking to strengthen their position in the face of increased competition and changing consumer habits. For Carrefour, this acquisition represents an opportunity for geographic expansion but also a way to achieve economies of scale.
The integration of the Provera purchasing center, also included in the transaction, should allow Carrefour to improve its negotiating power with suppliers.
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