ITALY | Carrefour has announced that it has entered into exclusive negotiations with NewPrinces Group regarding the sale of all its operations in Italy.
This transaction is part of the strategic review initiated by Carrefour at the beginning of the year.
Carrefour Italy operates a multi-format network of 1,188 stores (including 41 hypermarkets, 315 supermarkets, 820 convenience stores and 12 cash and carry outlets), and generated gross sales of €4.2bn in 2024, representing approximately four percent of the Group’s total sales.
After a recovery period from 2020 to 2022, Carrefour Italy recorded a decline in sales in 2024, along with negative Recurring Operating Income and Net Free Cash Flow, in a particularly challenging economic and competitive environment.
The planned transaction covers all of Carrefour’s activities in Italy. The estimated net impact on the Group’s treasury is -€240m, taking into account Carrefour’s financial contribution to support the transaction.
The Company will continue to operate under the Carrefour brand under a license agreement during a transitional period, as provided for in the services agreement. As part of the transaction, NewPrinces has committed to invest a minimum of €200m to enhance the long-term competitiveness of the Company.
In parallel, this divestment will contribute to enhancing the Carrefour Group’s growth profile, profitability, and recurring cash flow generation.
NewPrinces is a European agri-food group based in Italy. With a strong presence across four key markets and exports to over 60 countries, NewPrinces generated sales of €2.8bn in 2024. The company is listed on the Milan Stock Exchange.
The completion of the transaction remains subject to consultation with employee representative bodies, the obtaining of required regulatory approvals, and the signing of definitive legal documentation. It could be finalised by the end of 2025.
Carrefour expressed its full confidence in the commitment of the management, teams, and all employees of Carrefour Italy to ensure the success of this transaction and to contribute to this new chapter ahead, by continuing, just as they have done tirelessly for years, to serve their customers better every day.
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