Carrefour completes acquisition in Taiwan

Date : 06 January 2021

Jiong-Jiong Yu

Senior Retail Analyst

On 31 December 2020, Carrefour closed the acquisition, from Dairy Farm, of 224 supermarkets, as well as a warehouse, in Taiwan.

Part of Carrefour’s targeted acquisitions policy

Valued at US$108.37m, the deal includes 224 proximity stores:

  • 199 Wellcome stores, average sales area of 420 sq. m
  • 25 Jasons stores, average sales area of 820 sq. m

as well as a warehouse.

Source: IGD Research

 

The acquired stores will henceforth benefit from Carrefour’s commercial policy and purchasing conditions, while Wellcome will bring its recognized expertise in fresh produce and contribute to the development of food ecommerce,” Carrefour said in a statement.

The company plans to convert the Wellcome stores to the Market banner in 12 months, and then convert Jasons stores to a Carrefour premium banner. “This transaction is part of Carrefour’s targeted acquisitions policy, which it intends to continue.” said the company.

This acquisition will strengthen Carrefour’s position as one of the leading multi-format food retailers in Taiwan. Before the acquisition, Carrefour operated 137 stores in Taiwan, including 69 proximity stores under the Market banner. Retail Analysis subscribers can view our store visit to a Carrefour Market here.