Casino Group already considers the sale of the Libertad chain as done

Casino Group already considers the sale of the Libertad chain as done
November 1, 2023 – 00:00

presence. Grupo Libertad is based in Córdoba, but has expanded to other provinces and the City of Buenos Aires.

The French retail chain Casino has already sold its operation in South America, which includes the property in Argentina of the Libertad supermarkets, with a strong presence in the interior of the country and a recent landing in the City of Buenos Aires.

Casino – which employs about 200,000 people around the world – yesterday presented its South American activities as “discontinued”, reporting that it recorded a turnover of 4.5 billion euros (4.8 billion dollars) in the third quarter of 2023.

The firm, in financial difficulties and in the midst of restructuring its debt, is in the process of selling its group called Éxito in the region – present in Colombia, Uruguay and Argentina – to the Salvadoran Grupo Calleja, and has already gradually sold its shares in the chain Brazilian Assaí.

The French group only reported a turnover of 888 million euros (946 million dollars) in Latin America, corresponding to the activity of the Pão de Açúcar Group in Brazil.

For the rest of the region, “given that the sale of Grupo Éxito is considered highly probable”, its turnover “is presented as discontinued activities for the periods 2022 and 2023.” The sale of Éxito was announced on October 16.

In Argentina, the Libertad chain has 14 shopping centers, 14 hypermarkets, 10 local supermarkets and 11 mini wholesale supermarkets and an online sales channel. In July of this year, it opened its first point of sale in CABA: the Fresh Market that operates in the Buenos Aires DOT shopping center.

Source: Ambito

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