FRANCE - An acquisition will soon be getting underway in the retail sector. Auchan Retail France and Rocca have entered into exclusive negotiations with the Casino group, which plans to sell its subsidiary Codim 2.
According to a press release, Codim 2 operates in Corsica four hypermarkets, nine supermarkets, three cash and carries, and two drive-throughs, having achieved a turnover excluding taxes of 332 million euros in 2023.
The Casino group intends to conduct these discussions in the best interests of Codim 2 and its employees, as well as its local partners. All activities, employees, and support functions would be taken over and operated under the Auchan banner if the deal goes through.
The proposed sale will be submitted to the employee representative bodies involved and competent competition authorities.
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