Carrefour acquires Magne to expand convenience store presence in France
The acquisition signals a major push into the convenience store sector, with plans to open 400 new stores this year.
FRANCE – French retail giant Carrefour has announced the acquisition of French convenience store chain Magne, which owns 101 stores in the south-east of France.
The deal is part of Carrefour’s broader strategy to expand its convenience store operations and increase its footprint in key markets.
This acquisition follows the company’s ambitious plan to open 400 new convenience stores this year, up from the initial goal of 250. Carrefour’s decision comes as the demand for convenient, quick-shopping options continues to rise in many urban areas across France.
The company believes that acquiring Magne will help strengthen its position in the highly competitive convenience store market.
“We are excited about the opportunity to integrate Magne’s established network into our portfolio and increase our convenience offerings,” said a Carrefour spokesperson. “The acquisition aligns with our strategy to expand our presence and meet the growing demand for neighborhood-based retail options.”
Expansion plans beyond France
In addition to expanding its presence in France, Carrefour has been actively working on its international expansion efforts. Recently, the company revealed plans to strengthen its position in the Saudi Arabian market, where it has been experiencing significant growth.
Carrefour, operated in Saudi Arabia by Majid Al Futtaim, is opening several hypermarkets and improving its online shopping services to cater to the country’s fast-growing retail sector.
This expansion aligns with Saudi Arabia’s Vision 2030, which is focused on diversifying the economy and promoting the growth of the retail industry.
Carrefour’s move to boost its presence in major cities such as Riyadh, Jeddah, and Dammam is aimed at meeting the demand for quality goods and convenient shopping experiences in these fast-growing urban centers.
A company representative stated, “E-commerce is no longer just an option; it is an expectation. We are investing heavily to ensure our customers enjoy a smooth and efficient online shopping experience.”
Carrefour’s bold move in Brazil
In another major development, Carrefour has increased its offer to shareholders of Carrefour Brasil, offering 8.50 reais per share, a 10% increase from the previous bid.
The deal, which aims to take Carrefour’s Brazilian operations private, would benefit both Carrefour and its shareholders, providing a strategic opportunity for further growth in Latin America.
“We believe this offer reflects the value of Carrefour Brasil and will support the next phase of its development,” the company said.
Carrefour’s plans to make its Brazilian arm private could pave the way for further consolidation and investment in the country’s retail sector.
As Carrefour continues to enhance its global presence and improve its operations in key markets, its strategy of acquiring smaller retailers like Magne and focusing on convenience store expansion is clearly designed to position the company for future success in an increasingly competitive global retail market.
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