By Ruth Bender
PARIS--French retailer Groupe Casino SA (CO.FR) Monday said it signed a deal with a French independent retailer to further boost its presence in the discount segment in its highly competitive home market.
Casino's Leader Price discount unit will buy 47 discount stores from Mutant Distribution, a subsidiary of Groupe Les Coop��rateurs de Normandie-Picardie. The 47 stores, located mainly in south-west France, represented revenue of over 100 million euros ($138 million) in 2012, Casino said in a statement.
Leader Price will extend its brand in the Normandy and Picardy region by adding another 90 'Le Mutant' stores to its network under a brand licensing and supply contract. Those stores represented over EUR200 million last year, Casino said.
The move further into discount follows the acquisition this summer of 38 Norma discount stores in south-east France.
Casino said the deal, which is subject to the approval of France's anti-trust authority, is expected to take effect in the first quarter of 2014.
Write to Ruth Bender at firstname.lastname@example.org
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
(END) Dow Jones Newswires
October 28, 2013 05:04 ET (09:04 GMT)Copyright (c) 2013 Dow Jones & Company, Inc.
|MACOM Extends Leadership in Networking Applications with New Wideband, High Dynamic Range Frequency Doubler (2014/2/28)|
|MACOM Extends Leadership in Networking Applications with Integrated USB Receiver (2014/3/20)|
|U-Swirl, Inc. Acquires Fuzzy Peach Frozen Yogurt, Expanding Store Network by 6% (2014/2/20)|
|Snoqualmie Casino Launches Next-Generation Play4Fun Network™ iGaming Platform from Williams Interactive ()|
|GameAccount Network plc Partners with Foxwoods® Resort Casino to Launch First Simulated Gaming™ Online Casino (2014/2/12)|
|dd's DISCOUNTS to Open Three New Stores in Southern California (2014/2/28)|
|dd's DISCOUNTS to Open a New Store in Austin, Texas (2014/2/26)|
|Food Network Ups The Ante In New Series Kitchen Casino Hosted By Bill Rancic (2014/3/3)|
|TransAct Extends Relationship with PCI Gaming, Bringing Epicentral® Promotion and Bonusing System to Second Poarch Band of Creek Indians Casino in Alabama ()|
|dd's DISCOUNTS to Open Two New Stores in Northern California (2014/2/27)|
|Start Premium Trial||Register For Free|
|P||F||Fund Financial Data (13,000+ funds)|
|P||F||Stock Financial Data (7,000+ stocks)|
|P||F||Stock and Fund Screeners (basic)|
|P||F||Investing Articles and Market Commentary|
|P||F||Articles Archive (>30 days)|
|P||F||Discuss (dozens of stock, fund, bond, and general bulletin boards)|
|P||F||Portfolio Manager (basic)|
|P||F||Morningstar Investment Classroom|
|P||F||Access Your Portfolio Anytime, Anywhere via Your Mobile Device|
|P||Morningstar Fund Analyst Reports (full research on 1,700 funds, ETFs, and CEFs)|
|P||Morningstar Stock Analyst Reports (full research on more than 1,100 stocks)|
|P||Portfolio Manager (advanced with 10 X-Ray analyses, including recommendations)|
|P||Portfolio Monitor (monthly and on-demand personalized portfolio statements)|
|P||Morningstar Proprietary Stock Information (stock star ratings, buy/sell prices, economic moat ratings, and more)|
|P||Morningstar 5-Star Stock and Fund Favorites & Red Flags eNewsletters|
|P||Premium Stock and Fund Screeners (advanced with nearly infinite ways to find the best securities for you)|
|P||Discounts on Morningstar newsletters, books, seminars, and more|
Access these features and more when you sign up for Free Membership.
Join Morningstar today. It's Free.
Access these features and more when you sign up for Premium Membership.
Start your free 14-day trial today online
Your subscription may be tax deductible. Please contact your tax advisor.