Louis Delhaize Group in the Sale of the Cora and Match Banners in France to Carrefour and in the Sale of c. 93% of Galimmo to Carmila

On July 1, 2024 Carrefour finalized the acquisition of the Cora and Match Banners in France from Louis Delhaize, and Carmila, in which Carrefour has a 36% stake, finalized the acquisition of c.93% of Galimmo, a listed company, from the Louis Delhaize group.

The Cora and Match banners operate 60 hypermarkets and 115 supermarkets respectively and employ c.24,000 people in France.

The Carrefour transaction values the acquired assets on the basis of an enterprise value of €1.05 billion. It includes the purchase of the premises of 55 hypermarkets and 77 supermarkets. The transaction was carried out 100% in cash.

In parallel, Carmila, has acquired the c. 93% of Galimmo held by the Louis Delhaize group for c. €272 million. Galimmo owns 52 shopping galleries adjacent to Cora stores.

Carrefour, with the support of Louis Delhaize, obtained a waiver from the French competition authority to finalize the acquisition. The French competition authority must still decide on the merits and on possible remedies by the end of the first quarter of 2025.