Carrefour is expanding into Israel: the French supermarket group is entering into a franchise agreement with local food retailer Yenot Bitan. The first supermarkets will open their doors later this year.
To market leadership in Israel
Local supermarket formula Yenot Bitan already operates supermarkets under its own name and under the Mega banner, but before the end of the year it will also open its first Carrefour supermarket. Moreover, the group will also sell private label products of the French retailer in all 150 of its own stores.
Carrefour will collaborate with Electra Consumer Products, the parent company that took over family business Yenot Bitan last year. The arrival of Carrefour would mean lower prices and more purchasing power for local consumers, according to the company: with the help of the French, Electra expects to become market leader in Israel and, in time, to expand to other markets as well.
Electra Consumer Products is a large listed retail holding company, active in various segments. The group has a joint venture with Bosch for the production of household appliances, but also has its own electronics chains Electric Depot and Shekem Electric. In outdoor retail, the holding company is a franchisee of Columbia Sportswear.