Recently, the Italian group NewPrinces announced that it has reached an agreement to acquire all of Carrefour's operations in Italy for a business value of nearly 1 billion euros. After acquiring Carrefour Italy, NewPrinces will become the second-largest food and beverage group in Italy by revenue.
Carrefour Italy operates a multi-format network consisting of 1,188 stores, including 41 hypermarkets, 315 supermarkets, 820 convenience stores, and 12 cash & carry outlets. Carrefour Italy's sales for 2024 (including VAT) were 4.2 billion euros, accounting for approximately 4% of the group's total sales. After experiencing a recovery period from 2020 to 2022, Carrefour Italy's sales declined in 2024, with both operating profit and net free cash flow being negative due to a harsh economic competitive environment. The sale of Carrefour Italy by the French company aims to help the company get rid of its loss-making business and boost overall performance.
The transaction covers all of Carrefour's business activities in Italy, with Carrefour investing 240 million euros to support the business development, and NewPrinces also investing 200 million euros. NewPrinces expects the transaction to be completed by the end of the third quarter of this year.
NewPrinces is a European food and beverage group headquartered in Italy. The group's business covers four core markets, with products exported to more than 60 countries, and its 2024 turnover reached 2.8 billion euros. It is listed on the Milan Stock Exchange.
Image source: Carrefour 2025 International Fruit and Vegetable Report. All rights reserved. Republishing requires permission from the International Fruit and Vegetable Report and credit must be given to the International Fruit and Vegetable Report.