Paris, 22 July 2019,
Casino Group and GBH announce, today, the signature of a unilateral purchase agreement to sell Vindémia, for an enterprise value of 219 million euros.
Founded in 1972 in Reunion Island and gradually acquired by Casino Group between 2001 and 2007, Vindémia today is the leading retailer in the Indian Ocean (Reunion Island, Madagascar, Mayotte, Mauritius) and enjoys a multi-format positioning (hypermarkets, supermarkets, cash and carry and proximity).
GBH, a family group founded in 1960, has developed from the overseas departments and internationally, at first on industrial activities and later around two businesses, automotive distribution and retail.
With this agreement, Vindémia's activities will continue and develop within GBH's Retail division.
The completion of this disposal will be achieved after consultation with employee representative bodies and subject to approval by the French Competition Authority. In the agreement, GBH has committed to sell stores to a third party in anticipation of possible concerns from the Competition Authority.
ANALYST AND INVESTOR CONTACTS
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+33 (0)1 53 65 24 17
Casino Group – Direction of Communication
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Karine ALLOUIS - +33(0)1 53 70 74 84 - email@example.com
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