The more than a century-old group announced this Wednesday, January 24 that 288 super and hypermarkets would change ownership, marking the virtual disappearance of the brand. An inter-union meeting is due to meet in the coming weeks.
A page is turning in the world of mass distribution. The Casino group has announced the sale of 288 hypermarkets and supermarkets to its competitors Auchan and Intermarché. Facing financial difficulties, Casino is in the process of changing ownership and will soon be owned by businessman Daniel Kretinsky (creditor of Libération) associated with investor Marc Ladreit de Lacharrière. This sale of stores, the amount of which is estimated at 1.3 billion euros, will make it possible to deflate Casino’s debt, estimated at 6 billion euros and the result of international expansion carried out at pace. . It appears that the future owners have firmly requested that this session of stores take place, given the financial situation and even before their takeover.
The Les Mousquetaires-Intermarché group will buy the majority of these stores, i.e. 190 establishments. Auchan should take possession of 98 units, mainly hypermarkets, the format which generates the most losses. Carrefour also announces that it is in “exclusive negotiations” with its competitor Intermarché to take over 31 stores, including 26 currently under the Casino brand, in areas where Intermarché already has a significant market share. The Competition Authority ensures that situations of abuse of a dominant position cannot arise, because they always have an impact on the prices charged in a given catchment area, whether for sale to consumers or purchasing for suppliers.
At the end of this operation, only around twenty hypermarkets and supermarkets should remain, undoubtedly temporarily, within the fold of Casino. There will then remain 6,000 local stores, under the Spar, Vival or Petit Casino brand, but all operated according to the franchise system: independent traders rent the brand. It is therefore the virtual disappearance of a brand born in 1898 in Saint-Etienne that we are witnessing. Employee representatives are observing this movement with some concern. Casino certainly specifies that the 12,000 employees concerned will be taken back with their employment contract. The fact remains that the distributor’s corporate agreements are more advantageous than those of Intermarché or Auchan. However, these provisions may be denounced and no longer be effective within fifteen months. “We are going to meet as an inter-union organization to decide on the actions to be taken in the coming weeks,” Thomas Meyer, Unsa central delegate, told Libération.
The sale of these 288 stores obviously aroused the keenest interest of all of Casino’s competitors. It has become extremely difficult, given the legislation, and in particular that on the artificialization of land, to obtain authorizations to open a super or hypermarket. Those that already exist therefore only gain more value.
Updated at 7 p.m.: with negotiations between Carrefour and Intermarché.
