Carrefour to acquire 53 Billa supermarkets in Italy from Rewe Group for undisclosed terms; stores comprise 58,000 sq. meters of selling space, generated about US$411M in in net sales in 2013
Cindy Allen
June 30, 2014
(Bloomberg LP)
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Carrefour SA said it will acquire 53 Billa supermarkets in Italy from Rewe Group, strengthening its business in a country where it has struggled.
The Billa stores, which comprise 58,000 square-meters of selling space, generated about 300 million euros ($411 million) of net sales in 2013, Boulogne Billancourt, France-based Carrefour said today in a statement. Financial terms were not disclosed. Carrefour’s sales fell in Italy in the last two calendar years and in the first quarter of 2014 amid increased competition on price. The retailer will help consolidate Italy’s grocery market, Chief Executive Officer Georges Plassat told shareholders in April. To contact the reporter on this story: Andrew Roberts in Paris at aroberts36@bloomberg.net To contact the editors responsible for this story: Celeste Perri at cperri@bloomberg.net Robert Valpuesta, James Boxell
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