Transfer of Leader Price to Aldi

Transfer of Leader Price to Aldi
The transfer of the Leader Price park can begin. Fifteen days after obtaining the approval of the French Competition Authority, Casino has finalized the sale to Aldi France of 545 Leader Price shops, 2 Casino supermarkets and 3 warehouses. During the transition period, day-to-day operations will continue to be managed by the Casino group until the gradual transition of shops under the Aldi banner throughout 2021.
 
This operation, which has been in the pipeline for a year, will finally bring 648 million euros to Casino. A sum received on 30 November 2020 to which will be added up to €35 million in earn-out to be paid later on the basis of compliance with operational indicators during the transition period. In addition, the group may soon sell additional Leader Price shops to Aldi for up to €11 million.
 
For the owner of the Géant Casino, Monoprix, Franprix chains and the Cdiscount site, among others, this sale is part of a plan to sell off non-strategic assets, the value of which has now reached €2.8 billion since July 2018. Intended to reassure the financial markets, this plan also allows the Casino group to "focus on its promising formats, which are e-commerce, premium and on new high-growth businesses around energy and data," says its CEO Jean-Charles Naouri.
 
Note that this transaction does not determine the end of the Leader Price signature. Casino, which remains the owner, will be able to continue to operate it in France and internationally. The group will thus retain a wholesale activity with some 200 franchised Leader Price shops, as well as with external or internal customers, Leader Price products being referenced in the shelves of Franprix, Géant or Casino supermarkets, sometimes in dedicated corners.

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