Leader Price Casino Aldi
French supermarket chain Casino wants to offload its discount chain Leader Price and is now supposedly close to a deal with Aldi.
- The Casino group would now have more choices to sell Leader Price, which it became owner in 1997. Since December 2019, other players have 'shown interest' in the store base and 'have had access to information from disposal, ”says Business Insider. Aldi and Casino are still in negotiations. A decision could also fall within a few weeks.
- Casino group has completed the sale to ALDI France of 545 Leader Price stores, 2 Casino supermarkets and 3 warehouses, for an enterprise value of 717 million euros (including an earn-out of up to.
750 million euros
Debt-laden French retailer Casino has agreed to sell 567 Leader Price stores in France, plus three warehouses, to German discount rival Aldi in a deal with an enterprise value of 735 million euros.
According to Reuters, an agreement between Casino and Aldi is imminent: both parties supposedly more or less agree on a 750 million euro value for the discount chain, but the deal is not signed yet. Neither Aldi nor Casino wished to respond to the article.
Casino Vend Leader Price A Aldi
Already in September last year, Casino confirmed rumours that the French retailer was conducting exclusive negotiations with Aldi to sell Leader Price. At the time, there was talk of a takeover price of “well over 400 million euros”. The French chain is burdened by heavy debt and is trying to tackle that with a divestment plan worth 4.5 billion euros. The sale of Leader Price is part of that downsizing.
Leader Price Casino Aldi Locations
On its own French market, Casino has suffered greatly from the fierce competition including from E.Leclerc and discounters Aldi and Lidl. Online players like Amazon also present a big challenge.