NewPrinces Group recently announced [3] that it had reached an agreement with Carrefour to acquire its entire business in Italy for approximately 1 billion euros ($1.17 billion). Following the acquisition, NewPrinces Group will become the second-largest food and beverage company in Italy by revenue.

Carrefour Italy operates a multi-format network [4] of 1,188 stores, comprising 41 hypermarkets, 315 supermarkets, 820 convenience stores, and 12 cash and carry outlets. In 2024, it generated 4.2 billion euros ($4.92 billion) in sales, representing about 4% of the Carrefour Group’s total revenue. After a recovery period from 2020 to 2022, sales declined in 2024, with both recurring operating income and net free cash flow turning negative amid a challenging competitive and economic environment. By selling its Italian operations, the Carrefour Group seeks to exit loss-making markets [5] and bolster its overall performance.

NewPrinces stated that the deal is expected to be completed by the end of the third quarter of this year. The business will continue to operate under the Carrefour brand, and NewPrinces has pledged to invest a minimum of 200 million euros ($234 million) to enhance the company’s long-term competitiveness.

NewPrinces is a European food and beverage group headquartered in Italy. Operating in four core markets, the company exports its products to more than 60 countries and recorded revenue of 2.8 billion euros ($3.28 billion) in 2024. It is listed on the Milan Stock Exchange.

Image: Pixabay

This article was translated from Chinese. Read the original article [6].