The company has agreed to buy Wellcome Taiwan from Dairy Farm International Holdings Ltd. to assist in its expansion.
Wellcome Taiwan’s overall enterprise value is €97M and the deal will see Carrefour acquire 224 proximity stores along with a warehouse. The group had net sales of around €390M in 2019 according to Carrefour.
The deal is expected to be completed by the end of the year, and Carrefour’s plans for the brand include an optimisation of cost-structure and rebranding of the stores.
Carrefour currently owns 137 stores in Taiwan, and generated net sales of €1.97bn, earnings before interest taxes, depreciation, and amortization of €209M and recurring operating income of €83M in 2019.
