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Carrefour Completes the Acquisition of 172 Proximity Stores and Supermarkets in Spain

MASSY, France--(BUSINESS WIRE)--Regulatory News:

Carrefour (Paris:CA) announces the closing of the acquisition of Supersol stores in Spain. The transaction involves 172 convenience stores and supermarkets, located mainly in Andalusia and the Madrid region, for a final enterprise value of 78 million euros1.

The acquisition consolidates Carrefour’s number two position in Spain by diversifying its store network and strengthening its presence in growth formats, in line with the Carrefour 2022 transformation plan.

This transaction is also part of the Group’s targeted and value-creating acquisition policy.

Store conversions to the Carrefour banners (Express, Market and Supeco) will be completed by end-2021. Once converted, the stores will benefit from Carrefour's offer, commercial policy and purchasing conditions. The Group plans to improve sales density and optimize the cost structure. This acquisition should translate, for Carrefour Spain, into additional EBITDA of c.50 million euros post IFRS-16 by 2023.

This acquisition will also contribute to the development of food e-commerce. Around 90% of the acquired stores are located in large cities (Madrid, Malaga, Cadiz and Seville) and will ultimately become new order pick-up points.

About Carrefour Group

With a multi-format network of some 13,000 stores in more than 30 countries, the Carrefour Group is one of the world's leading food retailers. Carrefour recorded gross sales of €78.6 billion in 2020. It has more than 320,000 employees who help to make Carrefour the world leader in the food transition for everyone, providing everybody with access to high-quality, affordable food every day, in all locations.
At end-December 2020, Carrefour operated 1,250 stores in Spain, including 205 hypermarkets, 112 supermarkets, 906 convenience stores and 27 Supeco. The Group posted net sales of €9,058 million in the country in 2020.
For more information, visit www.carrefour.com, or find us on Twitter (@GroupeCarrefour) and LinkedIn (Carrefour).

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1 IFRS 16 capitalized leases are estimated at 87 million euros

Contacts

Group Communication
Tel: +33 (0) 1 58 47 88 80

Investor Relations: Selma Bekhechi, Antoine Parison and
Anthony Guglielmo
Tel: +33 (0) 1 64 50 79 81

CARREFOUR

BOURSE:CA
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Contacts

Group Communication
Tel: +33 (0) 1 58 47 88 80

Investor Relations: Selma Bekhechi, Antoine Parison and
Anthony Guglielmo
Tel: +33 (0) 1 64 50 79 81

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