We are really pleased to have announced SUPR’s latest acquisition of a portfolio of Carrefour stores in France.
The portfolio of 17 strong performing omnichannel supermarkets has been acquired through an off market sale and leaseback transaction, for a total purchase price of €75.3 million.
The stores form a key part of Carrefour’s “Drive” online grocery fulfilment network and are geographically diversified, with a weighting towards northern France, and operated under the Carrefour Market brand. They have an average gross internal area of c.40,000 sq ft, with a long history of successful trading.
Carrefour is one of the largest grocers in the world, with total sales of €94 billion in FY23, across 30 countries and a 20% market share in France.
Ben Green, Director of Atrato Capital Limited, the Investment Adviser to SUPR, said:
“We are delighted to have completed this strategic sale and lease back transaction with Carrefour, one of the largest grocers in the world. The transaction represents the Company’s first investment in the fast-growing €284 billion French grocery real estate market.
This accretive transaction is complementary to our existing portfolio, providing further tenant diversification and continues our strategy of investing in the future model of grocery.”
Read the full RNS: https://lnkd.in/eH9B-p-M
View our portfolio: https://lnkd.in/eny3P3Zs
