BELGIUM: Carrefour expands in Belgium through O'Cool deal
The move will increase the number of Carrefour Market stores in Belgium to 448
French retail giant Carrefour has acquired the lease of 13 O'Cool stores in Belgium that it will convert to its Market banner.
The stores, which have an average size of 450-850sq m, will be operated as a franchise under the Market banner, the retailer said.
"Carrefour is committed to preserving jobs and retaining the employees of these stores," it said, adding that more jobs may be created as a result of the conversion.
One of the stores is located in Wallonia, in south Belgium, and the remaining 12 are in Flanders, in the north of the country. Both are locations where Carrefour Market has "little or no presence", the retailer said.
"Due to the agreement with O'Cool, Carrefour Belgium continues to grow and will be able to expand its presence," Carrefour said.
The move will increase the number of Carrefour Market stores in Belgium to 448 by the summer of 2013.
On Thursday, two of the world's largest food retailers will report their 2012 financial results and, more importantly, try to convince investors their moves to improve their operations in key markets ...
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