The French Carrefour expands into convenience stores in Taiwan | Reuters | Business

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By Dominique Vidalon

PARIS (Reuters) – French retailer Carrefour announced Tuesday it has agreed to buy food retailer Wellcome Taiwan from the Asian dairy farm , making it number two in the convenience store market in Taiwan.

The transaction, with an enterprise value of 97 million euros ($ 108.00 million), covers the purchase of 224 stores as well as a warehouse and should be completed by the end of the year. , according to the press release.

Wellcome Taiwan had net sales of around 390 million euros in 2019.

Carrefour, which currently operates 137 stores in Taiwan, including 69 convenience stores under the Market banner, is the fifth largest retailer in the country. PX Mart is the largest operator of convenience stores.

Carrefour achieved net sales in Taiwan of almost 2 billion euros, EBITDA of 209 million euros and current operating income of 83 million euros in 2019.

As it expands in Taiwan, Carrefour withdrew from the highly competitive Chinese market where, last year, it sold 80% of its loss-making operations to electronics retailer Suning.com.

($ 1 = 0.8981 euros)

(Report by Dominique Vidalon; Editing by Kim Coghill and Carmel Crimmins)



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