10-28-13 5:04 AM EDT | Email Article

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 ruth.bender@wsj.com

 

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(END) Dow Jones Newswires

October 28, 2013 05:04 ET (09:04 GMT)

Copyright (c) 2013 Dow Jones & Company, Inc.
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