Carrefour looking for Brazilian capital

French newspaper Journal du dimanche states that Carrefour has started negotiations with Brazil’s biggest supermarket chain CBD about a possible merger of CBD and Carrefour's Brazilian activities. The French chain would have asked Bank Lazard to explore this possibility.

 

Biggest Brazilian food retailer

Carrefour has been looking for new capital for some time and has earlier been trying to introduce its real estate branch and a discounter brand to the stock markets. Its new target, the "Companhia Brasileira de Distribuição", is the biggest Brazilian food retailer with 1800 stores and 140,000 employees. The Diniz family (famous for its Formula One driver Pedro and one of the richest in Brazil) would join Carrefour's capital. 

 

French obstacle

The main obstacle in joining the 30 billion dollar group and the "disappointing" activities of the French chain lies in another part of France: Carrefour's rival Casino holds 35% of CBD's shares, about as much as the Diniz family does. Neither of the European chains wanted to comment the possible merger. 

 

Papin dropped out of French director position

It looks like Lars Olofsson, general director at Carrefour, has to take charge of Carrefour's French activities somewhat longer, as the main candidate for his succession has dropped out. Serge Papin, strong favourites with analysts, would stay on as CEO of Carrefour's competitor Système U - that has just taken over 46 Carrefour franchisers. 

French newspaper Journal du dimanche states that Carrefour has started negotiations with Brazil’s biggest supermarket chain CBD about a possible merger of CBD and Carrefour's Brazilian activities. The French chain would have asked Bank Lazard to explore this possibility.

 

Biggest Brazilian food retailer

Carrefour has been looking for new capital for some time and has earlier been trying to introduce its real estate branch and a discounter brand to the stock markets. Its new target, the "Companhia Brasileira de Distribuição", is the biggest Brazilian food retailer with 1800 stores and 140,000 employees. The Diniz family (famous for its Formula One driver Pedro and one of the richest in Brazil) would join Carrefour's capital. 

 

French obstacle

The main obstacle in joining the 30 billion dollar group and the "disappointing" activities of the French chain lies in another part of France: Carrefour's rival Casino holds 35% of CBD's shares, about as much as the Diniz family does. Neither of the European chains wanted to comment the possible merger. 

 

Papin dropped out of French director position

It looks like Lars Olofsson, general director at Carrefour, has to take charge of Carrefour's French activities somewhat longer, as the main candidate for his succession has dropped out. Serge Papin, strong favourites with analysts, would stay on as CEO of Carrefour's competitor Système U - that has just taken over 46 Carrefour franchisers. 

Questions or comments? Please feel free to contact the editors


Patrick Louvet is Ralph Lauren's new CEO

19/05/2017

Fashion label Ralph Lauren has appointed Patrick Louvet as its new CEO. He will succeed Stefan Larsson, who decided to leave the company following a difference of opinion with founder and chairman Ralph Lauren.

Scotch & Soda continues French conquest

18/05/2017

Dutch fashion brand Scotch & Soda will soon open boutiques in Dijon and Paris, to add to its nine boutiques in France.

Urban Outfitters once again failed to meet expectations

17/05/2017

Fashion company Urban Outfitters failed to live up to 2017’s first quarter expectations. Its like-for-like turnover dropped again for Anthropologie, Free People and Urban Outfitters’ parent company.

Stella McCartney strengthens its retail strategy

16/05/2017

Fashion label Stella McCartney introduced a new store formula in Paris, focused on sustainability. The brand wants to open new stores in Florence, Los Angeles and New York in the summer.

Abercrombie & Fitch considers sales options

11/05/2017

American clothing brand Abercrombie & Fitch has enlisted an investment bank to look at its options if it were to sell the fashion company, although this does not mean it will definitely be sold.

More than 20 million active Zalando customers

09/05/2017

At the end of its first trimester, Zalando surpassed the twenty million active customer milestone. Turnover for the quarter also grew nearly 25 %, to 980.2 million euro.

Back to top