Metro Cash & Carry has sold its business in Morocco to Carrefour franchisee Label Vie.
The Moroccan retailer will take over all of Metro Cash & Carry’s operations in the country, including its eight wholesale stores, from the end of the month.
Go deeper with GlobalData
Metro Cash & Carry’s Moroccan operations posted EUR208m (US$283.8m) sales during 2009 and employs around 1,400 people but the retailer said it did not see “sustainable” growth on the horizon in the African market.
“This was not an easy decision for us,” Metro Cash & Carry CEO Joël Saveuse said today (22 November). “We see no sufficient and sustainable growth and expansion perspective for the specific concept of our self-service wholesale business in Morocco.
“This market exit also demonstrates that we are consistently benchmarking our country portfolio against earnings targets and will not hesitate to also make severe cuts.”
See Also:
Metro Cash & Carry, a unit of German retail giant Metro Group, said Label Vie plans to maintain these jobs and turn the eight warehouses into hypermarkets.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData
