El Corte Inglés has reached an agreement with the French company Carrefour to sell 47 SuperCor stores, 25% of the total stock of these supermarkets, for 60 million euros. The French group will expand its presence in markets it considers strategic in Spain, especially Catalonia, Madrid, Andalusia and the Valencian Community.
For the company chaired by Marta Álvarez, the operation involves getting rid of stores that it does not consider to be a priority, mainly due to their size. El Corte Inglés wants to focus on large supermarkets, between 2,000 and 2,500 square meters, at the foot of the street and with a premium offer.
The department stores will retain ownership of the properties they own. The agreement for the transfer of the business also establishes certain obligations for the maintenance of employment, they reported from El Corte Inglés.
For its part, Carrefour will convert the acquired stores into the Carrefour Market, Carrefour Express and Supeco brands. It is not the first time that the French distribution group has grown in Spain through acquisitions. In 2019 it paid 205 million euros for 36 Eroski hypermarkets and in 2020 it integrated 127 Supersol stores into its commercial park.
“Carrefour will consolidate its position in Spain by further diversifying the network of stores and geographical areas, in line with its strategy”, they pointed out. The chain is the second operator in the distribution of mass consumption in the country by market share, only behind Mercadona. During this year it managed to increase the quota by 0.2 points, up to 9.9%, according to data from Kantar. As for Mercadona, it remains the leader with a 26.1% market share.
The French group highlights that it is the company in the sector that has made the most organic openings in 2024, with 44 stores. With this operation, it will exceed 1,500 stores in this country.
The transaction is subject to customary conditions and is expected to close before the end of the first half of 2024.
El Corte Inglés also foresees the opening of new Supercor brand supermarkets, between 800 and 1,500 square meters, which will allow it to continue developing its store park. “The new establishments will include a wide and quality commercial offer at competitive prices”, they emphasized. The company is waiting to open a new supermarket on Diagonal in Barcelona, ??next to Plaça Francesc Macià, right in the building that used to be occupied by the department store. Currently, the group’s food division has different formats: El Corte Inglés Supermarkets, Hipercor, Supercor, Sanchez Romero and Club del Gurmet stores. Add to that the more than 550 supermarkets that operate at Repsol gas stations, under the Supercor Stop brand
