Casino has agreed to buy over 40 Le Mutant outlets and struck a licencing deal with the chain’s owner in the north of the country.
Under agreements announced today (28 October), Casino said it had struck a deal to buy 47 Le Mutant discount stores “mainly” in south-west France.
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The retailer said it had also agreed a “brand licencing and supply contract” with Le Mutant owner Groupe Les Coopérateurs de Normandie-Picardie covering “around” 90 other outlets in Normandy and Picardy in the north of France.
The agreements were struck through Casino’s Leader Price business. “They allow expanding Leader Price’s integrated network in the strategic southwest region and strengthening the attractiveness and presence of the Leader Price banner in Normandy and Picardy through the partnership with affiliates,” Casino said. “The partnership and new acquisition will continue to strengthen Casino’s presence in France’s discount segment.”
The 47 stores to be acquired generated over EUR100m in sales including VAT last year. The around 90 outlets to be “affiliated” to Leader Price took in EUR200m in sales excluding VAT in 2012.
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By GlobalData
