Cora stores that change brand will lower their prices by at least 10% on nearly 3,000 products.
The retail giant Carrefour announced on Monday 1 July that it was officially buying the Cora and Match stores, previously owned by the Belgian group Louis Delhaize, and while it will keep the second brand, the Cora stores will be transferred to the Carrefour brand by the end of the year.
Carrefour indicated in a press release that it “finalized today the acquisition of the Cora and Match brands in France“, as well as their Provera purchasing center. The operation is carried out on the basis of an enterprise value of 1.05 billion euros. Louis Delhaize owned 60 Cora hypermarkets and 115 Match supermarkets, often located in the north-eastern quarter of France, according to Carrefour, they represent around 2.4% of the very competitive food distribution market, and employ 22,000 people.
Consolidate its second place behind E.Leclerc
This acquisition, “the most important for Carrefour since the acquisition of Promodès“in 1999, says CEO Alexandre Bompard, allowed Carrefour to consolidate its second place behind E.Leclerc, which holds almost a quarter of the market, and ahead of Les Mousquetaires/Intermarché who bought numerous stores from the struggling Casino group. Carrefour announced in mid-June that it had obtained a waiver from the Competition Authority to carry out this acquisition without waiting for its decision on the operation. The conclusions of the body responsible for controlling concentrations are awaited.by the end of the first quarter of 2025” according to Carrefour. The distributor estimates “limited competition issues” because of “the strong geographic complementarity of the two groups“a you”benefit of the operation” pour “the consumer“.
Price reduction on 3,000 products
During a telephone press briefing on Monday, Alexandre Bompard clarified that “From October, each Cora store that changes its sign“will lower prices”at least 10% on nearly 3,000 products” sold. A figure to compare with the number of references sold in hypermarkets, between 20 and 35,000.
The Cora hypermarkets will come under the Carrefour brand by the end of the year, while the Match brand will be retained. In a letter to new employees consulted by AFP on Monday, Alexandre Bompard explains that Cora must “get a new lease of life“while Match”will keep its singularity“. “This project will be presented to the social partners in the coming days.“
Asked by the press about the possibility of the purchased stores becoming franchises or lease management, methods of operating stores favored by the distributor but criticized by its unions, Alexandre Bompard replied that the purchased stores “will be developed at this stage in an integrated manner“.
