Carrefour sell its Italian branch to NewPrinces Group

NewPrinces Group has signed a binding agreement to acquire Carrefour Italia for 1 billion euros. Carrefour operates 1188 stores across Italy. Its revenue in 2024 reached 4,2 billion euros, marking a decline in sales and resulting in a net free cash-flow loss of 180 million euros. The Carrefour brand will remain in use  for 3 years, after which it will be replaced with revived GS brand, which was prevalent in Italy form 1950’s to 2010.

NewPrinces rebranded itself in April of this year from the name Newlat Food. The change followed its acquisition of one of largest UK’s food group, Princes Group, in 2024. After the rebranding it continued expanding via acquisition of Plasmon biscuit. NewPrince Group is listed on the Milan Stock Exchange, and it operates on 4 main markets - Italy, Netherlands, UK and France. With more than 30 main brands,18 000 employees and revenue exceeding 6.9 billion euros it will become 2^nd largest Italian food group.

Besides being one of the largest grocery stores in Italy Carrefour prided itself in being last late-night store option at highly frequented touristic destinations. Only time will tell whether this niche, but highly demanded part of the market will be filled by other competitors, or it will leave many late-night tourists lost forevermore on a quest for Carrefour.