Carrefour has sold 97 of its supermarkets to investment company La Française AM in a 'sale and lease back' operation: while the supermarkets change hands, they will remain Carrefour Markets for the next 12 years. 32 other supermarkets and 7 hypermarkets in the south-western regions of Poitou-Charentes and Limousin leave the Carrefour group and become Super U stores.
365 million euro for 97 supermarkets
La Française AM is to pay Carrefour 365 million euro for the 97 supermarkets, an amount that Carrefour will “use to finance and develop property projects”, according to its headquarters in Boulogne-Billancourt. The new owner is a real estate investor that was formed in 2009 by the merger of UFG and La Française des Placements Investissements.
39 Carrefours join cooperative competitor
Last weekend, 32 supermarkets and 7 hypermarkets of the Coop Atlantique franchise organisation have defected from Carrefour to join the Super U chain. The 3,000 employees had a busy weekend switching all the labels, price tags, the neon logos outside (up to 4 metres high) and – of course – all the Carrefour private label products with their Super U equivalents.
Coop Atlantique had been a strategic partner of Carrefour since 1998, but the relations between the two have become quite tense as a result of a financial disagreement concerning tens of millions of euros in profit margins.