Carrefour to sell Italian operations to NewPrinces Group
The deal includes 1,188 Carrefour Italy stores and is expected to close by the end of 2025 pending approvals.
ITALY – Carrefour has entered into exclusive negotiations with Italy-based NewPrinces Group for the sale of its entire operations in Italy, marking a significant move in its strategic realignment initiated earlier this year.
The planned divestiture covers all of Carrefour’s business activities across the country.
According to a statement released by Carrefour, the estimated net impact on the group’s treasury from the transaction is -€240 million (US$277.9M). This figure accounts for the company’s financial support to facilitate the deal.
Despite the ownership change, Carrefour stores in Italy will continue operating under the Carrefour brand for a transitional period through a licensing and services agreement.
Carrefour Italy runs a multi-format retail network comprising 1,188 outlets. These include 41 hypermarkets, 315 supermarkets, 820 convenience stores, and 12 cash and carry locations.
In 2024, the Italian division generated gross sales of €4.2 billion (US$4.86B), contributing roughly 4% to Carrefour’s total global sales.
NewPrinces Group, a European agri-food company with operations in four major markets and exports to over 60 countries, has committed to invest at least €200 million (US$231.6M) to strengthen the long-term viability and competitiveness of Carrefour Italy.
In 2024, NewPrinces recorded annual sales of €2.8 billion (US$3.2B). Its first-quarter 2025 performance saw revenues of €672.2 million (US$778.4M) and a net profit of €13.5 million (US$15.6M), reversing a €2.2 million (US$2.5M) loss from the same period last year.
Chairman of NewPrinces, Angelo Mastrolia, described the transaction as a major step in the group’s strategy to enhance vertical integration between production and retail distribution. He noted that this acquisition would reinforce value creation across the supply chain.
Carrefour stated that this move aligns with its broader objective to improve profitability, enhance its growth profile, and generate recurring cash flow.
The transaction is subject to customary conditions, including regulatory approvals, employee consultations, and the execution of final legal agreements.
The companies expect to complete the transaction by the end of 2025.
Meanwhile, NewPrinces is reportedly exploring an initial public offering (IPO) for its UK-based Princes unit on the London Stock Exchange, potentially set for October.
Sign up HERE to receive our email newsletters with the latest news and insights from Africa and around the world, and follow us on our WhatsApp channel for updates.
