By Adria Calatayud
Carrefour has agreed to buy 47 supermarkets and convenience stores in Spain from Spanish group El Corte Ingles in a deal valued at 60 million euros ($64 million), including debt.
The French grocer said late Wednesday that the acquisition will diversify its store network and geographical footprint in Spain. The stores–which currently operate under the SuperCor brand–will be converted to the Carrefour Market, Carrefour Express and Supeco banners, the company said.
The deal is expected to be completed before the end of the first half of 2024, subject to customary closing conditions, Carrefour said.
Write to Adria Calatayud at [email protected]
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