French retail giant Carrefour has announced that retail group Hyparlo is taking control of 100% of its Romanian subsidiary, previously held in a 50/50 joint venture with Carrefour.
At the same time, Carrefour is reinforcing its partnership with the Arlaud family by taking a 50% stake in the holding company which controls Hyparlo. Carrefour also retains its 20% direct stake in Hyparlo.
After the successful opening of four Carrefour hypermarkets in Romania, of which three are in Bucharest and one in Brasov, Hyparlo is planning the opening of a number of new stores. The group’s objective in the short term is to double the number of hypermarkets from four to eight between now and the end of 2006.