FRANCE: Carrefour seals Coop Alsace stores deal
Carrefour has sealed a deal to buy 128 stores in France from regional retailer Coop Alsace.
The two sides announced they were in talks last October but said yesterday (17 March) a transaction had been finalised following approval from France's competition watchdog.
"This is a commercial project and a modern local network we want to bring along while maintaining the regional identity of stores," Gerard Dorey, executive director of Carrefour's French convenience business, said.
Coop Alsace was reportedly close to bankruptcy in 2011 and undertook a restructuring of the business. Last August, the retailer sold a clutch of stores to another French retailer E. Leclerc.
According to Coop Alsace's website, the retailer has 144 stores.
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