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Carrefour and Casino, two of the biggest food retailers in France and owner of hundreds of stores overseas combined, are squabbling about claims one approached the other of a possible merger.
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On Sunday (23 September), Casino issued a statement asserting it had been contacted by Carrefour 'over the last few days with a view to a possible combination'.
- Ocado unveils tie-up with France’s Groupe Casino. Ocado has pioneered a warehouse system that uses battery-powered robots to retrieve crates of food from a giant cube, delivering them to.
- In March, Casino agreed to sell 567 Leader Price stores in France, plus three warehouses, to German discount rival Aldi in a deal with an enterprise value of €735 million.
In the statement, Casino said its board had met on Sunday and had 'unanimously reiterated its entire confidence' in the retailer's 'strategy for value creation based on its unique market positioning'.
The statement read: 'The board unanimously decided to reject Carrefour's approach. Casino thus intends to take all necessary action to defend the group's corporate interest, and its structural integrity, a key factor for the success of its strategy.'
The St Etienne-based Casino - which runs chains including Franprix and Leader Price in France - said its board also 'observed that Carrefour's approach occurs at a time when the market for Casino's securities has been subjected to coordinated downward speculative manipulations of an unprecedented scale over the course of the past several months'.
From the start of 2018 to the close of trading on Friday, Casino's shares had fallen more than 29%, in part amid concerns over debts at the retailer's parent holding Rallye.
The statement raised eyebrows in the market, what with the relative market shares of Casino and Carrefour not just in France but also in Brazil.
According to Statista, a combined Carrefour-Casino would, based on forecast 2018 market shares, account for 29.4% of France's grocery retail market.
A report from the Foreign Agricultural Service of the US Department of Agriculture, issued in June, had Carrefour as the largest retailer in Brazil by market share, at 14%, according to figures cited from the Brazilian Supermarket Association. Casino's Grupo Pao de Acucar was second at 13.7%.
Fast-forward to Monday morning and a statement emerged some 285 miles further north from Carrefour's HQ outside Paris. Carrefour's statement also referred to Casino's recent 'difficulties' but flatly rebuffed the claim it had made an approach.
'The difficulties faced by Casino and its controlling shareholder may not justify untimely, misleading and groundless communications,' Carrefour's statement read.
'Carrefour denies having solicited Casino and is surprised that Casino's board of directors would have been submitted a merger proposal that does not exist.
'Focused on the implementation of its 2022 transformation plan, Carrefour is reviewing its legal options in order to stop these unacceptable innuendoes.'
just-food has asked Casino for a reaction to Carrefour's statement.
It is unusual for two companies to publicly dispute a story like this, even more so when they are direct rivals.
Given the relative positions of Casino and Carrefour in France and Brazil, as well as Carrefour's recent other strategic moves, including its planned buying tie-up with Tesco, it would be a surprise if there had been an approach for the entire business.
That said, could Carrefour be eyeing parts of Casino's portfolio?
When it comes to the age-old struggle between eating in and eating out, Paris is no exception. Restaurants are top-notch, with prices to match. Cooking your own meals (if you’re lucky enough to have access to a kitchen) or even picnicking outside will save you loads of euros.
However, tourists might find it difficult to navigate the many chains of supermarkets in Paris. Here are the names to know if you’re ready to visit a supermarché.
Franprix
The chain with the most supermarkets in Paris, Franprix has at least one store in almost every neighborhood. Stores carry the brand “Leader Price,” one of the cheapest store brands available. Franprix offers decent produce, frozen selections and general grocery needs. Many locations are even open on Sundays and until 10 pm at night! This is by far the most popular supermarket choice.
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Carrefour
The Walmart of France, Carrefour offers a huge variety of brand name and generic goods. Smaller Carrefour markets within Paris and larger Carrefour superstores just outside of the city limits are sure to please the most ardent grocery store addict.
Picard
While not the cheapest place to shop, Picard does offer an excellent selection of exclusively frozen goods (this is a good market if you have a freezer). You can get almost anything frozen for reasonable prices, considering the great quality. We recommend sampling the cupcakes…
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Monoprix
Whenever anyone asks where to buy something, Monoprix is usually a good answer. Comparable to Target in the US, Monoprix also doubles as a great grocery store with inexpensive Monoprix brand products. Every arrondissement has at least one large Monoprix store in addition to smaller shops, called Daily Monop’, for a quick sandwich or can of beans.
Related: Gourmet Picnic ideas for your paris hotel room
Additional tips
Other stores to look out for include G20 and Marché U. And while not always as cheap, bodegas and corner markets sell small selections of food at reasonable prices (and stay open late!).
Be warned that most grocery stores close before 9 or 10 PM and—apart from a handful of Franprix stores—are rarely open on Sunday. Store brands are consistently cheaper than name brands, though the quality is not remarkably different. Plus, brands such as Leader Price and Monoprix now offer organic goods, so even organic shoppers can find a deal!
Related:Paris Outdoor Markets: 10 tips for budget shoppers
Your grocery store experience
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Do you have a favorite grocery store or supermarket in Paris? Tell us about it!