Carrefour sells 35 stores in France and Spain

Carrefour has announced the sale of a real estate portfolio consisting of 35 stores in France and Spain to a real estate investor. This is a so-called sale-and-leaseback transaction, under which the retailer will continue to operate the stores.

Value: 290 million euros

Carrefour is selling 26 Carrefour Market supermarkets and 6 hypermarkets in France, as well as 3 hypermarkets in Spain, to a joint venture between Atrato and GIC, a leading global investor, in the form of a sale-and-leaseback transaction. The total net sale value of the transaction amounts to approximately 290 million euros, the retailer states in a press release.

The French group will continue to operate all of these stores without interruption. The newly signed lease agreements, with an initial term of 12 years—including a fixed, non-cancellable commitment of 10 years—ensure the operational flexibility needed to run the stores. This transaction is in line with the company’s strategy to monetize its real estate assets, as previously announced in the Carrefour 2030 strategic plan.