M&A

M&A

French hypermarket chain Carrefour eyes acquisition of food retail cos. in India

Economic Times   Carrefour  

French retailer Carrefour is exploring the acquisition of struggling food retail companies in India as part of a strategy to scale its operations rapidly. The company has re-entered the Indian market through a franchise agreement with Dubai-based Apparel Group and recently launched its first store. The partnership aims to open 50 stores within three years.Founded in 1959, Carrefour operates a network of over 15,000 stores across more than 40 countries. In India, the company is moving away from its previous large-scale hypermarket model, opting instead to test smaller store formats ranging from 15,000 to 25,000 square feet.