Carrefour has signed a deal to acquire the French unit of supermarket chain DIA.
Carrefour will take over the Spanish retailer’s 800 stores in the country.
Dia’s French operations are valued at around €600 million.
Carrefour spun off hard discounter Dia three year ago.
The move will strengthen the French retailer as it works to build market share over key competitors Casino and LeClerc.
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Industry analysts believe Carrefour may look to close some of Dia’s underperforming stores in the country.
In March, ESM reveals how DIA was working with BNP Paribas SA (BNP) on a potential sale of its French business.
© 2014 - European Supermarket Magazine
