French retailer Casino may be willing to sell all of its eponymous supermarkets and hypermarkets to focus on more profitable activities. Several candidates – including some big names – are said to be interested.
New candidates
The French retail group, which will soon be acquired by Czech investor Daniel Kretinsky, sees its financial situation deteriorating further. The company is carrying heavy debts and will end 2023 with huge losses again, mainly due to weak performance of its hypermarkets.
The retailer is trying to respond and has already sold 61 supermarkets to Intermarché, which will also take over a second batch of 72 shops and has an option on a third batch of 62 supermarkets. Now, however, candidates are also declaring their interest for the remaining 291 supermarkets and 52 hypermarkets, business newspaper Les Echos reports. Several retailers are said to be in the running, French media mention the likes of Auchan, Carrefour, Lidl and Système U.
Profitable operations
Casino confirmed the news this morning, but pointed out that any transaction will have to be approved by the consortium taking control of the group. The bids will be analysed over the next few weeks.
If Casino indeed decides to divest all remaining hyper- and supermarkets under its own name, the group will be able to further focus on proximity store chain Franprix and on premium supermarket chain Monoprix, which will soon open its first shop in Belgium and has big European ambitions. Both chains are said to be profitable. The group also has operations in Brazil.
