Carrefour cancels sale of Argentine business, opts to keep operations
Plans to pursue local expansion with US$300 million investment programme
ARGENTINA – Carrefour has decided to retain its Argentine operations after dismissing all offers to acquire the unit, citing proposals that did not reflect the market’s growth potential, the company’s CEO Alexandre Bompard told investors in Paris.
Bompard announced during a presentation on Carrefour’s 2030 strategic plan that a review initiated in mid-2025 ended without any satisfactory acquisition bids.
He explained that the company now divides its markets into core countries and others outside this group, with Argentina, Belgium, and Poland in the latter category, but offers for these non-core markets fell short of expected value creation.
Carrefour identified France, Spain, and Brazil as its primary markets, while leaving the long-term position in Argentina uncertain, although Bompard confirmed that operational improvements would continue and that all strategic options remained under consideration, from expansion to a partial or total sale.
For Argentina, the immediate step is to halt the sale process and focus on growth, including a local investment programme valued at more than US$300 million set to run through 2027, aimed at opening new stores and creating jobs.
During the ongoing sale process in September 2025, Carrefour had expanded its footprint by acquiring the Super A supermarket chain in Mendoza, signaling a continued commitment to the market.
Interest in the Argentine unit came from several groups, including businessman Francisco de Narváez through Grupo GDN, owner of Chango Más, which proposed a deal initially estimated at US$1 billion to retain the brand and safeguard around 17,000 local jobs.
Other parties reportedly involved in discussions included the retailer Coto and investment fund Klaff Realty, though no binding agreements were finalized before Carrefour ended the sale process.
The company confirmed it would continue to operate in Argentina with its current setup, comprising hypermarkets, supermarkets, wholesale outlets, and financial services, while focusing on improving operational efficiency.
This decision follows a broader review of Carrefour’s portfolio, which has seen the company complete the acquisition of minority shares in Brazil, sell its Italian subsidiary, and negotiate other divestments in Romania to prioritize investment in core markets.
Carrefour’s move reflects a strategy to consolidate resources and strengthen focus on markets deemed most critical while maintaining flexibility in less central regions, balancing expansion opportunities with operational control.
The company’s Argentine unit, previously slated for sale, now enters a phase of growth-oriented investment that includes new store openings, job creation, and targeted operational improvements.
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