The Carrefour Group has entered into negotiations with the NewPrinces Group for the sale of all its operations in Italy. The transaction is part of the strategic review initiated by Carrefour at the beginning of the year and could be completed by the end of 2025.
Carrefour Italy operates a multi-format network with 1,188 stores, including 41 hypermarkets, 315 supermarkets, 820 convenience stores, and 12 wholesale units (cash & carry). In 2024, the network recorded gross sales of €4.2 billion in the country, representing approximately 4% of the Group’s total sales.
Between 2020 and 2022, Carrefour Italy experienced a period of recovery. However, in 2024, it experienced a decline in sales, as well as negative recurring operating income and free cash flow, in a particularly challenging economic and competitive environment.
The planned transaction covers all of Carrefour’s activities in Italy. The estimated net impact on the Group’s cash is -€240 million, considering Carrefour’s financial contribution to make the operation viable.
The company will continue to operate under the Carrefour brand through a licensing agreement during a transition period, as provided for in the service provision agreement. As part of the agreement, the NewPrinces Group has committed to investing at least €200 million to strengthen the long-term competitiveness of the operation.
NewPrinces Group
NewPrinces is a European agri-food group headquartered in Italy. With a strong presence in four key markets and exports to more than 60 countries, the group reported sales of €2.8 billion in 2024. The company is listed on the Milan Stock Exchange.
Completion of the transaction is still subject to consultation with employee representative bodies, obtaining the necessary regulatory approvals, and signing the final legal documentation.
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*This text was translated by AI