The French Carrefour buys 224 convenience stores in Taiwan


FILE PHOTO: A Carrefour logo is visible on a Carrefour hypermarket in Mérignac near Bordeaux, France, on September 19, 2019. REUTERS / Regis Duvignau

PARIS (Reuters) – French retailer Carrefour (CARR.PA) said Tuesday it had agreed to buy Wellcome Taiwan from Dairy Farm (DAIR.SI), as it is further expanding its footprint in Taiwan and in the format of fast-growing convenience stores.

The transaction, with an enterprise value of € 97 million (£ 86.42 million), covers the purchase of 224 convenience stores in quality locations as well as a warehouse, the statement said.

Wellcome Taiwan posted sales of around 390 million euros in 2019.

Report by Dominique Vidalon; Editing by Kim Coghill

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