retail giant Carrefour SA, the world''s No 2 supermarket
operator behind Wal-Mart, has announced having acquired
German company Tengelmann''s Spanish discount operations
under the Plus Supermercados brand.
said in a statement that its Spanish hard discount unit
Dia had bought the 250 Plus Supermercados stores for
€200 million ($275.4 million / Rs1,148.6 crore)
from privately held German retailing giant Tengelmann
agreement also includes 58 future store projects, Carrefour
plans to expand its presence in the fast-growing "hard
discount" sector of the retailing market, where
discounts are continually offered on a wide range of
goods, in a bid to reduce its dependence on the French
market, which has been facing sluggish sales and falling
is the leading hard-discount retailer in Spain, where
its sales totaled €3.5 billion last year, accounting
for about 15 per cent of its overall revenue.
German firm''s 250 Plus Supermercados will add a sales
area of 170,000 square meters of property and net sales
of €437 million for the twelve-month period ended
April 2007 to the French retail giant''s 2,806 stores
operated by its Spanish arm, Dia.
acquisition allows Dia to reinforce its position as
market leader in hard discount in Spain," Carrefour
said in its statement.
is Carrefour''s second acquisition in quick succession
in the hard-discount sector under CEO José Luis
April Carrefour paid about $1.1 billion for Atacadão
Distribuição Comércio e Industria
Ltda., the owner of 34 Brazilian discount hypermarkets,
making it Brazil''s biggest retailer.
has been shuffling its portfolio of global assets since
early 2005, to focus on markets in which it was one
of the top three players and exit others.
in Carrefour have been on a roller-coaster ride in recent
months after French billionaire Bernard Arnault teamed
with Los Angeles-based Colony Capital LLC in March to
buy a 9.8 per cent stake, sparking speculation of an