- 23rd July 2019
- Posted by: damian.shore
- Categories: SagaRetail News, Retail & Shopping Malls, Cote d'Ivoire
On July 22nd, Groupe Casino announced that it had agreed a deal to sell its Indian Ocean subsidiary Vindémia to GBH (Groupe Bernard Hayot) for €219 million. Vindémia operates hypermarkets, supermarkets, cash and carry outlets, and convenience stores in Reunion Island, Mayotte, Madagascar, and Mauritius – a total of 185 stores with a sales area of 115,000m².
Founded in 1960 and based in the Caribbean island of Martinique, GBH already operates 11 Carrefour stores in Guadeloupe, French Guiana, Reunion Island, Martinique, and the Dominican Republic, as well as Géant, Casino, and Leader Price outlets in New Caledonia. To facilitate the deal, which must be approved by the French Competition Authority, four hypermarkets currently operated by Vindémia in Reunion Island have been excluded – these are to be sold to Make Distribution, which is owned by local investors.
On the day this deal was announced, GBH also opened its first Leader Price store in Abidjan, joining Prosuma, CDCI, Carrefour, and Citydia in the burgeoning Ivorian grocery retail market.