El Corte Inglés has reached an agreement with the French Carrefour to sell 47 SuperCor stores, 25% of the total park of these supermarkets, for 60 million euros. The French group will thus expand its presence in markets that it considers strategic in Spain, especially Catalonia, Madrid, Andalusia and the Valencian Community.
For the company chaired by Marta Álvarez, the operation involves getting rid of stores that it does not consider a priority, mainly due to its size. El Corte Inglés wants to focus on large supermarkets, between 2,000 and 2,500 square meters, at street level and with a premium offer.
Department stores will retain ownership of the properties they own. The agreement for the transfer of the business also establishes certain obligations to maintain employment, reported from El Corte Inglés.
For its part, Carrefour will convert the acquired stores to the Carrefour Market, Carrefour Express and Supeco brands. It is not the first time that the French distribution group has grown in Spain based on purchases. In 2019, it paid 205 million euros for 36 Eroski hypermarkets and in 2020 it integrated 127 Supersol stores into its commercial park.
"Carrefour will thus consolidate its position in Spain by further diversifying its network of stores and geographic areas, in line with its strategy," they noted. The chain is the second operator in mass consumption distribution in the country by market share, only behind Mercadona. During this year it managed to increase its share by 0.2 points, up to 9.9%, according to Kantar data. As for Mercadona, it remains the leader with a 26.1% market share.
The French group highlights that it is the company in the sector that has made the highest number of organic openings in 2024, with 44 stores. With this operation, it will exceed 1,500 stores in this country. The transaction is subject to customary conditions and is expected to close before the end of the first half of 2024.
El Corte Inglés also plans to open new SuperCor brand supermarkets, measuring between 800 and 1,500 square meters, which will allow it to continue developing its store park. “The new establishments will include a wide and quality commercial proposal at competitive prices,” they highlighted. The company is waiting to open a new supermarket on Barcelona's Diagonal, next to Francesc Macià Square, right in the building previously occupied by the department stores. Currently, the group's food division has different formats: El Corte Inglés Supermarkets, Hipercor, Supercor, Sanchez Romero, and the Club del Gourmet stores. Added to these are the more than 550 supermarkets that operate at Repsol gas stations, under the Supercor Stop brand.
