Carrefour: agreement to acquire Wellcome Taiwan
(CercleFinance.com) - Carrefour announces that it has reached an agreement with Dairy Farm to acquire Wellcome Taiwan, in a deal involving 224 convenience stores and a warehouse, for an enterprise value of 97 million euros and sales (excluding VAT) of approximately 390 million euros in 2019.
This acquisition, which has been completed under attractive conditions, will enable Carrefour to accelerate its development in Taiwan in the fast-growing convenience store format, the group explained, which will therefore become the local number two retailer in this format.
The transaction is subject to customary conditions and is expected to be completed by the end of 2020. The food retailer then plans to convert the stores to the Market or Carrefour premium banners.
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