Lidl buys the grocery chain Leader Price and Casino stores part

The transaction amount, according to which several dozen stores are transferred from the Casino Group to a German retailer, is estimated at 42 million euro.

The portal Allretail writes about it. It is noted in the publication that this is not the grocery outlets first sale that previously entered the Casino Group orbit. For example, the French company previously sold   hypermarkets’ number to its compatriots from the E.Leclerc chain for 100,6 million euro.

As Casino Group representatives stated, the stores selling is part of a strategy for unprofitable objects getting rid, especially FMCG-hypermarkets and supermarkets under the Leader Price sign.

Read more –

Tesco plans to close 10% of its stores and lay off 4,500 employees