Carrefour officially moves to NewPrinces: all the economic and distribution implications
Carrefour officially moves to NewPrinces: all the economic and distribution implications
- Information
“The European Commission has approved, under the EU Merger Regulation, the acquisition of sole control of Carrefour Italia by NewPrinces”.
“The transaction mainly concerns the production and supply of food products through retail distribution.
“The Commission concluded that the notified transaction would not raise competition concerns, given its limited impact on competition in the markets in which the companies operate. The notified transaction was examined under the normal merger review procedure”.
With this announcement, Brussels gave the green light yesterday, 1 December, to the year's most striking acquisition.
The positive outcome was practically a foregone conclusion, given that the multinational owned by the Mastrolia family had not previously operated in the large-scale retail market.
Towards first place
NewPrinces, for its part, explains that the transaction forms part of the group's broader strategic plan for growth and vertical integration, with the aim of strengthening its presence in the Italian market and accelerating convergence between the industrial channel and the distribution network.
With the acquisition of Carrefour Italia, NewPrinces itself becomes the second-largest Italian agri-food group by turnover, after Ferrero, and the leading food & beverage operator in terms of employment, with 13 thousand direct employees in Italy and more than 18 thousand worldwide, in addition to a further 11 thousand people involved in ancillary activities provided by external companies.
The economic and financial effects
The acquisition is expected to have a significantly positive impact on NewPrinces' consolidated results as at 31 December 2025.
Preliminary data indicate that the group's net profit will exceed 700 million euros, including the effects arising from the business combination.
Net equity is expected to stand just above 1,1 billion at the end of the financial year 2025.
Net financial position will show an improvement of more than 300 million compared with the consolidated figures as at 30 September 2025.
Management forecasts that, by the end of financial year 2025, the group may report a positive NFP of between 150 and 200 million.
This figure already takes into account the payment of 120 million euros to be made by the end of the year for the acquisition of Plasmon.
Carrefour Italia and Plasmon will contribute, in 2026, to an increase in EBITDA of more than 200 million.
In the period prior to closing, Carrefour made a capital injection of approximately 530 million euros, intended to cover intercompany debts and other minor liabilities, as well as a further cash injection of 245 million, as provided for in the previously agreed investment plan (initially estimated at 237 million), for a total of more than 775 million.
This liquidity, added to that provided by NewPrinces—as set out in the investment plan amounting to 200 million—enables Carrefour Italia to have a positive net financial position of more than 400 million.
Angelo Mastrolia: we reach 7 billion euros
Angelo Mastrolia, chairman and founder of NewPrinces Group, goes into detail: «The completion of this transaction marks a strategically significant milestone. With the addition of Carrefour Italia, the group reaches an unprecedented scale, with consolidated revenues of 7 billion euros and an asset profile that we expect to exceed 1,1 billion euros by the end of the year, accompanied by a positive NFP of between 150 and 200 million euros. These results further strengthen the solidity of our industrial model and confirm the validity of the transactions carried out during the year: from the IPO of Princes Group (London listing), to the acquisition of Diageo Operations Italy, through to Carrefour Italia, together with the transactions we will complete by 2025, such as the acquisition of Plasmon».
«The integration of Carrefour Italia also represents a tangible opportunity for us to strengthen a fundamental element of our identity: the relationship between industry and retail. Our history began in the food industry, and we have an in-depth understanding of the needs of those who produce. We will therefore work to ensure a fair, transparent and collaborative approach with all Carrefour Italia's suppliers, enhancing the work of the supply chains and ensuring stability, fairness and long-term partnerships.
With a gradual plan, the historic GS brand will return entirely to 2028
The rebranding timeline
Following the transaction, the companies included within the target perimeter have immediately adopted the following new corporate names: Carrefour Italia becomes Princes Retail; Carrefour Finance changes to Princes Finance; Carrefour Property takes the name Princes Property.
The name of the G.S. company remains unchanged, and, once the necessary technical steps have been completed, it will also become the new banner for the retail distribution network.
The transaction does in fact provide for the Carrefour banners to be retained for a maximum period of three years, until the end of 2028, in order to ensure operational continuity and a gradual transition for consumers, employees and suppliers.
At the same time, the rebranding process will begin according to a plan organised by geographical area.
NewPrinces' development programme for Carrefour Italia provides for the modernisation of stores and, as mentioned, the relaunch of the GS brand with a new positioning, the acceleration of the store-opening plan through the expansion of both directly operated stores and those managed in partnership through an operating lease model and integration with the NewPrinces logistics platform, which has more than 600 refrigerated vehicles, in order to strengthen distribution in the HoReCa channel and home-delivery services, including the growth of the Docks cash & carry brand.
It is also worth noting that, in 2024, the group generated revenues of 2,8 billion euros, with a workforce of more than 8 thousand employees and 32 facilities across Italy, the United Kingdom, Germany, France, Poland and Mauritius.
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NewPrinces: margins surge at 30 September
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.
