Casino Group: Store disposals
Casino Group completes two waves
of store disposals
Paris, 2 October 2024
Following the agreements reached on 26 May 2023, Casino Group announces that it has sold its controlling 51% stake in 60 stores1 to Groupement les Mousquetaires on 30 September 2024. Groupement les Mousquetaires already holds a 49% stake in these stores from 30 September 2023.
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Following the agreements communicated on 22 June 2024, Casino Group announces the completion yesterday of the acquisition by Rocca Group of 100% of Codim 22, which employs all the employees of the stores sold, which will operate under the Auchan banner, and which also owns the head office of Codim 2.
Casino Group continues to operate Vival, Spar and Casino brands in Corsica through its convenience stores.
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By completing these disposals on schedule, Casino Group is continuing to refocus on its convenience brands. It now has nearly 8,000 outlets under its Casino, Vival, Spar, Naturalia, Monoprix and Franprix brands.
Compelled to sell its hypermarkets and supermarkets, the group has made every effort to protect the jobs of its employees. To date, the continued operation under new banners of the 18 stores in Corsica and nearly 380 hypermarkets and supermarkets on the mainland has preserved jobs for more than 17,000 people.
At the same time, agreements have been signed with the trade unions in the Group companies concerned by the Employment Protection Plan and have been validated by the authorities. Deployment of the employment protection plans has thus begun in most of the entities concerned, notably with the voluntary redundancy and internal redeployment phases. Casino Group is actively pursuing its efforts to find solutions for the close to 20 stores and 4 logistics platforms that have no buyer to date.
This press release has been prepared for information purposes only and should not be construed as a solicitation or offer to buy or sell any securities or related financial instruments. Similarly, it does not constitute, and should not be treated as, investment advice. It has no regard to the investment objectives, financial situation or particular needs of any Receiver. No representation or warranty, express or implied, is made as to the accuracy, completeness or reliability of the information contained herein. It should not be considered by recipients as a substitute for the exercise of their own judgment. All opinions expressed in this document are subject to change without notice.
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ANALYSTS AND INVESTORS CONTACTS
Charlotte IZABEL - - Tél : +33 (0)1 53 70 51 29
- Tél : +33 (0)1 53 65 24 17
PRESS CONTACTS
Casino Group – Communications Department
Stéphanie ABADIE - - Tél : +33 (0)6 26 27 37 05
- Tél : + 33(0)1 53 65 24 78
1 Including 1 hypermarket, 48 supermarkets and 11 Franprix/Leader Price/Casino stores
2 Codim 2 operates 4 hypermarkets, 9 supermarkets, 3 cash & carries and 2 drive-throughs in Corsica
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