Les Echos reports that the Moulin family (owners of Galeries Lafayette), has increased its stake in Carrefour to 9.5 per cent, under the Motier brand.
Philippe Houzé, head of Motier, stated in the French daily, "We have progressively invested in Groupe Carrefour's capital, and we have arrived at the point at which we are its second-biggest shareholder.
"We believe wholeheartedly in Carrefour's capacity for recovery, and in the strategy which has been effected by Georges Plassat, for whom I have massive respect," he added.
He spoke also of further "pooling the experience" of the Moulin family and of the multinational retailer.
In April of last year, Motier bought a 6.1-per-cent stake in Carrefour. It is understood that it will ask for two of its representatives to have positions on the grocer's board of directors.
Ginette Moulin, the granddaughter of Galeries Lafayette's founder, Théophile Bader, stated, "We do not intend to increase outstake any further."
© 2015 European Supermarket Magazine – your source for the latest retail news. Article written by Peter Donnelly.
