Carrefour expands footprint through Codifrance talks and property sales

Carrefour is engaged in significant real estate and business acquisitions as part of its strategic management. The French retailer has entered exclusive negotiations with Colruyt Group to acquire Codifrance, a wholesale business that supplies approximately 3,000 small local shops. If finalized, this deal would mark Colruyt Group's complete withdrawal from the French market following its previous sale of integrated retail assets.

Separately, Carrefour has agreed to sell a portfolio of 35 commercial properties in France and Spain for approximately 290 million euros. The sale, conducted via a sale and leaseback model, involves a joint venture between investment firm Atrato and Singapore’s sovereign wealth fund GIC. The portfolio includes 26 Carrefour Market supermarkets and six hypermarkets in France, along with three hypermarkets in Spain. Under the agreement, Carrefour will remain as a tenant through 12-year lease contracts, allowing the company to unlock liquidity from its real estate assets to support its 'Carrefour 2030' strategic plan.