In financial difficulty, the Casino group has officially transferred 61 stores to Intermarché

The struggling Casino distribution group has, as expected, “achieved the transfer of the first wave” of 61 stores to the Les Mousquetaires/Intermarché group, made the two groups official on Monday October 2. They evoke a “enterprise value of 209 million euros, including gas stations” for this transfer. The operation allows Casino to reduce its debt and Intermarché to increase its market share.

The transition to the Intermarché or Netto brand is planned “in October”, the time needed for the sign change work. The sold stores are spread across the entire territory, with a larger number in the south-west and east of France, on an axis going from Charleville-Mézières (Ardennes) to Bernis (Gard) via Firminy (Loire).

The two food distribution specialists agreed in May on a sale of 119 stores in two waves involving 4,000 employees, with an optional third of around sixty stores. Casino is saddled with debt that it must restructure as part of a conciliation period with its creditors, recently extended until October 25 by the Paris commercial court.