Belgian retailer Colruyt Group continues to invest in the French convenience store market, acquiring food wholesaler Degrenne Distribution. That family-run business supplies 1,800 stores in the north-west and Ile-de-France region.
Colruyt Group is acquiring 100 % of the shares of Degrenne Distribution, a company founded in 1960 that specialises in the distribution of dry, fresh and frozen products to a network of 1,800 stores that operate under brand names such as Episervice, Vivéco, Coccinelle and Coccimarket. The wholesaler achieves annual sales of 110 million euros and employs 140 people.
According to Colruyt Group, the activities perfectly complement those of its own subsidiary Codifrance, a wholesaler that supplies 300 small supermarkets under the Coccinelle, Coccimarket and Panier Sympa fascias. The retailer aims to grow further in the French proximity store segment.
The transaction will not be completed until the 2023/24 financial year, financial details will not be released.