Carrefour acquires 10 Sao Paulo hypermarkets from Sonae
With the transaction, Carrefour strengthens its position in the Sao Paulo area.
10/06/05 Carrefour acquires 10 hypermarkets currently operating under the BIG banner and located in the Sao Paulo area from Sonae for BRL 317 millions (€ 90 M).
These 10 hypermarkets reported 2004 net sales of BRL 455 millions, which is approx. € 128 M. With this transaction, Carrefour strengthens its position in the Sao Paulo area. The final transfer should take place by the end of June 2005.
Carrefour is the second largest retailer in Brazil. In 2004, the group achieved net sales of € 2.7 Billion in Brazil. It operated 85 hypermarkets, 97 supermarkets and 208 hard discount stores as of end of 2004. This operation is part of Carrefour Group’s overall strategy to establish market leadership in all key markets where it chooses to be present, and to optimise the asset portfolio in each of its markets.
Since the beginning of the year, Carrefour has divested its business in Mexico and entered into a franchise agreement with Aeon in Japan. At the same time, it has concluded the acquisition of 12 hypermarkets in Poland from Ahold, signed an agreement Aligros in Italy and signed agreements to buy Gima and Endi in Turkey and Chris Cash & Carry in Cyprus.
