Colruyt Group confirms talks with Carrefour regarding French wholesaler Codifrance

Colruyt Group is indeed in exclusive negotiations with Carrefour regarding a potential sale of its French wholesale business, Codifrance, which supplies some 3,000 neighborhood stores. The retailer has thus confirmed earlier rumors.

“No guarantee”

The report by the French investigative website La Lettre last week—which the companies involved dismissed as “a rumor”—turns out to be at least partially correct: Colruyt Group is in exclusive negotiations with Carrefour regarding the sale of its French subsidiary Codifrance. “Entering into exclusive negotiations does not guarantee that an agreement will be reached between the parties or that the transaction will actually be completed,” the press release cautions. Whether Carrefour is indeed willing to put 155 million euros on the table remains to be seen.

According to Colruyt, any sale must maximize Codifrance’s growth potential. The company supplies dry goods, fresh products, and frozen foods to more than 800 affiliated stores under its own brands—Panier Sympa, Épi Service, and VivÉco—as well as the licensed brands Coccinelle and Coccimarket. In addition, Codifrance supplies some 2,200 other independent retailers, spread across roughly three-quarters of France. Partly thanks to the acquisition of Degrenne Distribution in July 2023, the company grew significantly, reaching revenue of approximately 310 million euros in the 2025/26 fiscal year. However, a consolidation trend is underway in the French market, with Colruyt Group having already sold its French integrated retail operations several months ago.