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Current Position:Home » News » Marketing & Retail » Retail » Topic

French Antitrust Body Approves Casino's Takeover of Monoprix

Zoom in font  Zoom out font Published: 2013-07-11  Views: 35
Core Tip: France's antitrust authority has approved Groupe Casino's move to take sole control of the upmarket supermarket chain Monoprix.
FranMonoprixce's antitrust authority has approved Groupe Casino's move to take sole control of the upmarket supermarket chain Monoprix, on condition that it sells more than 10% of its Paris-based stores.

Of around 500 stores operated by the group in the capital city, Casino has agreed to sell 55 stores - as well as three additional stores in other parts of France.

The decision follows an investigation into Casino's plans to acquire a additional 50% stake in Monoprix from its partner Galeries Lafayette. A 2012 probe revealed Casino's impressive market share in Paris - the retailer operates more than 60% of food retail sales surfaces - more than three times that of its rival Carrefour.

"To avoid risks to competitiveness, Casino has agreed to sell a substantial number of sales points," said the French watchdog. In a statement, Casino confirmed that the store disposals required equated to less than 1% of its revenue in France. At the beginning of April, Casino was operating 9,389 stores in France, 481 of which were under the Monoprix banner.

 
 
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