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FRANCE - While German grocer Aldi has been advancing its expansion efforts across the United States, it has been developing a stronger presence throughout the rest of the world as well. Aldi recently announced plans to enter the brick-and-mortar retail space in China, and now it seems that it is also looking to grow its presence in France. According to Reuters, the retailer is in talks with French Retailer Casino Guichard Perrachon SA to acquire the latter’s discount grocery chain Leader Price.
An unnamed source claimed that both retailers agreed on a 750 million euro ($834 million USD) value for the Leader Price banner, but emphasized that so far no deal has been signed, the news source reports. Casino has reportedly been in contact with Aldi since September to discuss a possible sale of the Leader Price banner. Aldi declined to comment.
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Casino has been struggling as of late, currently in the middle of a 4.5 billion euro disposal plan to deleverage the company in an effort to contend with a difficult retail market. The acquisition could prove to be in the best interest of both parties, as the deal would aid in Aldi’s growth throughout France, and Casino could be better able to reassess its current operations to get the most out of its existing brands.
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Will this anticipated acquisition be finalized? AndNowUKnow will keep you posted.