Casino, the leading French supermarket has announced sale of 567 Leader Price stores in France, and three warehouses, to German retailer Aldi in a deal of approximately $792 million. The retail store Leader Price is a chain of discount stores in France, offered consumer products at very competitive price.
Leader Price stores that are not sold will be operated under Casino’s franchises. Casino also needs to stay brand owner to continue producing Leader Price-branded food products and distribute them within its own network in the country.
The prominent deals by Casino are mentioned below:
July 2019: Casino has agreed to sell its subsidiary Vindemia for approximately $246 million. With this deal, Casino has disposed of $2.5 billion worth of assets under a plan to cut its level of borrowing.
July 2019: Casino announced an agreement to sell three of its Geant Casino hypermarkets for approximately $46.8 million.
April 2019: Casino and e-commerce giant Amazon are expanding their partnership, with Amazon installing pick-up lockers in Casino stores and more of the French company’s products to be available on Amazon.