French retailer Carrefour announced on Thursday that it will acquire Cora stores in Romania after signing an agreement with Louis Delhaize Group.

According to a press release, the deal involves the absorption of Cora’s operations in Romania, including 10 hypermarkets and 8 Cora Urban stores, as well as the absorption of approximately 2,400 employees.

• “This transaction will strengthen Carrefour’s presence in Romania through hypermarkets and proximity formats acquired in key locations; later they are transformed into Carrefour brand stores and adapted to its formats.
• The agreement is subject to approval by competition authorities and will be completed by the end of 2020,” the company said.
• “Carrefour is determined to continue its growth in the local market. This acquisition demonstrates our commitment to become the first choice for Romanians in terms of retail, contributing to our network with two main formats – hypermarkets and stores.
• Carrefour has full confidence in the hypermarket format and its strategic role for local presence, being the main source of weekly shopping missions and meeting the basic needs of our customers. Through this process, we will add 10 new hypermarkets for better national coverage. I am delighted with this achievement of the local business and I aim to ensure the best possible transition for all parties involved – from our new colleagues, suppliers or future customers,” said Julien Munch, CEO of Carrefour Romania, as quoted in the press release.

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