Carrefour buys Codifrance: offer of 152 million euros

Carrefour has formalised its irrevocable offer of 152 million euros, equal to the enterprise value, to purchase Codifrance from the Belgian Colruyt group.

The event, whose outcome had long been awaited, will bring into the French multinational's perimeter a network of commercial outlets covering almost three quarters of French territory.

Codifrance, a buying group for 3.100 customers

And perhaps it is no coincidence that shortly beforehand, on 8 October, Carrefour raised resources of 290 million euros through the sale of the properties of 35 stores in Italy and France: they will continue to be operated under a sale and leaseback contract.

Codifrance, synonymous with proximity for 55 years, supplies dry, fresh and frozen food, thanks to 3 platforms, to more than 800 affiliates under its own brands – Panier Sympa, Épi Service and VivÉco – as well as under the Coccinelle and CocciMarket licences. It also develops a substantial private-label portfolio, under the umbrella brand Belle France.

The group, both a buying group and retailer, is a major player in the distribution sector in the Hexagon and also supplies 2.200 independent retailers, who, once the franchisees are added, reach a total of 3.100 professional customers.

Over the years, Codifrance has recorded strong growth, particularly thanks to the merger, formalised in December 2023, with wholesaler Degrenne Distribution (1.200 customer Pdv).

Carrefour becomes a benchmark for independent retailers

In 2025, the group generated 307 million euros in turnover and focuses, in particular, on formats ranging on average from 80 to 150 square metres.

The transaction responds to the need to expand Carrefour's network in the proximity channel, where it already has several assets across the Hexagon, including the Proxy banner, founded in 2000 and now with 1.500 locations.

Moreover, in this way, the French giant is positioning itself as a benchmark for independent retailers, who will be able to benefit from significant new resources in terms of logistics infrastructure and know-how.

Bompard: everything consistent with the Carrefour plan 2030

According to Alexandre Bompard, Pdg of Carrefour Group, the deal “is fully in line with the strategic objective set out in the Carrefour plan 2030, which envisages strengthening commercial proximity and a series of selective acquisitions of highly valuable assets”.

The closing is expected in 2027, following completion of all the necessary formalities.

Colruyt closed its latest financial year with turnover of 10,57 billion euros, up 3,1%, while Carrefour ended last year at 91,48 billion, up 2,8% on a like-for-like basis. France alone accounts for 46,3 billion (more than 50%), with a year-on-year like-for-like change of 0,3 per cent.

This article was translated from the original Italian version with the assistance of artificial intelligence. In case of discrepancies, please refer to the original Italian version.