Carrefour has snapped up a 75% stake in Indonesian retailer Alfa Retailindo in a deal worth IDR674bn (US$70.7m).
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The deal was signed with Alfa investors PT Sigmantara Alfindo and Prime Horizon, the French retail giant said today (21 January).
The Indonesian retailer operates 29 stores across the country, of which 13 are located in Jakarta. Alfa reported net sales in 2006 of IDR3,624bn.
Carrefour said the acquisition was part of its strategy to reinforce its presence in “key growth markets”.
Today’s move will consolidate Carrefour’s position as a leading food retailer in Indonesia.
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