PARIS: Carrefour, the French retail giant, has agreed to buy 25 hypermarkets and supermarkets from its rival Casino Group, in a deal that will reshape the country’s grocery landscape.

The deal, which was announced on Friday, follows a memorandum of understanding signed by Casino and another retailer, Groupement Les Mousquetaires, on 24 January 2024. Under that agreement, Groupement Les Mousquetaires had planned to buy some of the stores from Casino, but later decided to transfer them to Carrefour.

Casino and Carrefour said that the sale of the 25 stores, which include service stations, would be completed by 30 April 2024, after consulting with the workers’ representatives. Carrefour also pledged to maintain the same employment conditions for the staff of the transferred stores.

The transaction is subject to the approval of the relevant competition authorities, or their decision to waive the suspension of the deal pending their review.

Carrefour Pakistan eyes local economic revival with new Lahore supermarket opening