Intermarché Belgium aims for three billion euros in revenue by 2030

Despite logistical challenges and a few bankruptcies following the acquisition of Mestdagh, Intermarché aims to achieve 3 billion euros in revenue in Belgium by 2030. Further expansion, including through the Intermarché Express urban store format, is planned.

Reaching critical mass

Intermarché’s Belgian branch has been in the eye of the storm since the beginning of this year, following a series of articles in which some franchisees complained about serious IT and logistics problems at the Musketiers after the acquisition and integration of Mestdagh. As a result, stores were faced with incorrect or missing deliveries, declining sales, and shrinking margins. For some business owners, this has since led to bankruptcy.

Following reports by L’Echo, Le Soir, RetailDetail, and most recently RTBF, the French newspaper Le Monde also revisited the retailer’s internal struggles last Sunday. In an interview published Monday by trade magazine LSA, Chairman Laurent Boutbien and CEO Arnaud Meyrant defend themselves against the allegations.

The acquisition of Mestdagh was necessary to achieve sufficient critical mass in Belgium, both executives argue. Although the number of stores has since dropped from 166 to 151 due to closures and bankruptcies, and more closures may follow because 13 stores have yet to find a definitive buyer, organic growth of 11% in 2024 and more than 6% in 2025 proves that the retailer is outperforming the market.

Intermarché Express is coming to Belgium

In 2025, Intermarché generated revenue of 1.97 billion euros in Belgium, but also posted a loss of 46 million euros, primarily attributable to the acquisition of Mestdagh and significant investments in store renovations and operations. Nationally, the market share is just under 6%, but in Wallonia it exceeds 13%, placing the retailer in third place, behind Colruyt and Delhaize, but ahead of Carrefour Belgium .

By 2027, the red ink should be a thing of the past. By 2030, the Musketiers in Belgium are aiming for a turnover of 3 billion euros and a market share of 20%. How do they plan to achieve this? In existing stores, turnover per square meter must increase to 9,000 to 12,000 euros thanks to the conversion to the latest concept. Physical expansion of approximately 30,000 m² will come from store expansions, relocations, and targeted openings. Another new development is the launch of the Intermarché Express proximity store concept in Belgium, with about twenty stores planned by 2030 in urban areas.