Carrefour is in talks to buy over 200 discount stores in Spain owned by German retail group Tenglemann.
Go deeper with GlobalData
The French retail giant declined to comment on the negotiations, which could involve the acquisition of some 234 stores under the Plus banner.
However, when contacted by just-food today (9 July), Tenglemann confirmed talks are taking place. “Exploratory discussions are currently taking place because Plus Spain has not achieved the desired market position after 14 years of commitment,” a spokesperson said.
Tenglemann declined to comment further on the future of the Plus estate in Spain, which generates annual sales of around EUR524m (US$714m).
Carrefour refused to be drawn on its ambitions in Spain, where the company’s sales grew by 3.4% last year to EUR14bn. “That is a strategic question that we will not comment on,” a Carrefour spokesperson told just-food.
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 GlobalDataHowever, she added that Carrefour is “always looking for opportunities” in Spain, where it was recently linked to local retail group Caprabo, which was sold to Spanish grocer Eroski last month.
