Casino – Teract: Intermarché is joining the fray

Featured image of the article Casino – Teract: Intermarché is joining the fray

An article by Sophie Baqué

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Publication

25 April 2023 à 17h25

Updated on 2 May 2023 à 14h06

Reading time

4 minutes

Publication: 25 April 2023 à 17h25, Updated on 2 May 2023 à 14h06

Reading time: 4 minutes

Interrupting a proposed merger between Casino and Teract, Intermarché is joining the fray. The firm wants to take over about 100 Casino French supermarkets to gain 0.7% market share. This is dismantling for the Casino group.

An article by Sophie Baqué

Add mind Retail to your sources

Publication

25 April 2023 à 17h25

Updated on 2 May 2023 à 14h06

Reading time

4 minutes

Publication: 25 April 2023 à 17h25, Updated on 2 May 2023 à 14h06

Reading time: 4 minutes

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A week before publication of the Q1 results, the exit options are becoming clearer for Casino (2022 turnover of €33.6 billion), which is plunged into a debt crisis (€6.4 billion) exacerbated by the rise in interest rates and a grocery business weakened by inflation. The group has to repay €1.2 billion of debt maturing in 2024 and €1.8 billion in 2025.

On 24th April, Intermarché announced that it was joining the planned merger between Casino France and the listed group Teract (Jardiland, Gamm Vert, Boulangeries Louise, Delbard, Frais d’ICI, and Bio&Co, with shareholders Invivo and Misters Zouari, Niel and Pigasse).

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Article authors

Featured image of the article Sophie Baqué

Sophie Baqué Chief Editor of mind Retail

Featured image of the article Sophie Baqué

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