Intermarché takes over Colruyt stores in France
The Belgian retailer exited after 28 years in operation, selling 81 stores and boosting Les Mousquetaires’ expansion ambitions.
After nearly three decades in the French grocery sector, Belgian retailer Colruyt has sold its operations in France to Les Mousquetaires, the retail group behind Intermarché and Netto.
In a deal valued at €215 million, Les Mousquetaires will take over 81 Colruyt stores, 44 fuel stations and approximately 1,300 employees. Despite rival interest from E.Leclerc and Coopérative U, Intermarché’s proposal came out on top, with Colruyt describing it as “the most sustainable solution,” according to Capital.
Colruyt will still operate23 stores, three warehouses and a headquarters in the Jura region on its books. According to company statements, several offers have already been received for about 15 of these sites, and efforts to secure buyers for the remainder are ongoing in line with French regulations.
The acquisition is another decisive step in Les Mousquetaires’ aggressive push to grow its market share to 20% by 2028. The Colruyt stores complement the 300 hypermarkets and supermarkets acquired from Casino at the end of 2023.
For Les Mousquetaires, the stores, mostly located in Eastern and Central France, offer a strategic opportunity to fill gaps in regions where Intermarché and Netto have yet to establish a strong presence.
This move comes amid a wave of realignment in French grocery retail, following Casino’s sale of its hypermarkets and supermarkets, plus other acquisitions involving Schiever, Puig & Fils, Magne and Carrefour.
