French retail giants Auchan and Intermarché have presented a collaborative proposal to acquire all remaining stores of their struggling competitor, Casino. The deal, valued at over a billion euros, aims to thwart the advances of Lidl and maintain market positioning.
In an unprecedented alliance in the French retail landscape, Auchan and Intermarché are pooling resources to jointly acquire 52 remaining hypermarkets and 353 supermarkets from Casino. According to retail journal LSA, the proposed offer exceeds one billion euros.
This preliminary, tentative proposal primarily serves as a strategic move to outpace competitors. Auchan Retail CEO Serge Papin confirmed interest to France Bleu, noting that all French supermarket groups likely want a piece of the deteriorating Casino.
The leading contender is Lidl, aiming to independently acquire the majority of Casino’s supermarkets. Reports suggest they have prepared a generous offer, but the discounter is uninterested in hypermarkets. Intermarché sees an opportunity here, having already sealed a deal for 119 stores and an additional sixty as an option. Now, with Auchan’s collaboration, they aim to acquire all of Casino.
Every proposal is now under careful scrutiny by the consortium of Casino’s owners and labor unions, seeking maximum continuity. Given Casino’s prominent position in the French supermarket market and government interventions in creditor negotiations, policymakers are discreetly involved in the background.
