Carrefour has announced the acquisition of So.bio, a specialist in the distribution of organic products from the South West of France.
The company, based in the Nouvelle-Aquitaine region, was created in 2005 and currently operates eight stores.
The acquisition of So.bio expands the retailer's organic offering, complementing organic e-commerce site Greenweez, which Carrefour acquired in 2016.
The details of the acquisition have not yet been revealed, but Carrefour's acquisition of So.bio will have to be approved by authorities.
So.bio's 'close links with local and regional producers' makes it a valuable resource for Carrefour, the company said in a statement.
A Mutually Beneficial Deal
Benoit Soury, Carrefour’s organic market director said, "So.bio is one of the best specialised organic store concepts in France because of the quality of its product range, its price positioning, the know-how of its teams and its efficient management."
The move is part of Carrefour's ambitious 2022 plan and the group aims to develop the So.Bio banner on a national level.
According to So.Bio co-founder Jean-Marc Lachat, the acquisition presents a unique opportunity for So.Bio to "accelerate its development by capitalising on the complementary expertise and human and financial resources of the Carrefour Group".
Prior to the acquisition, So.Bio was set to open two new stores by the end of 2018. Carrefour's goal in organic food is to reach €5 billion in 2022 from €1 billion in 2017.
© 2018 European Supermarket Magazine – your source for the latest retail news. Article by Matthieu Chassain. Click subscribe to sign up to ESM: European Supermarket Magazine.
