GBH announced the signing with the Casino Group of an agreement to acquire Vindémia’s activities. In order to guarantee and reinforce competition, the draft agreement provides for the surrender of four hypermarkets (Jumbo Sainte-Marie, Jumbo Saint-André, Jumbo Chaudron, Jumbo Savanna) to Make Distribution, a new player with Reunion-owned capital, including Société Adrien. Bellier SA (SAB) is the reference shareholder.

Once the transaction is authorized, the market share of GBH (27%) will be lower than that of Vindémia to date (28%) and the arrival of Make Distribution, which will operate under a partner brand of Intermarché will substantially strengthen the competitive equilibrium of the large retailers in Reunion.

GBH will take over all employees of Vindémia who will join a group particularly invested in local employment and training. In order to promote the success of their integration, GBH will implement all the necessary support and training actions.

GBH will make significant investments to modernize and energize the outlets acquired. GBH is committed to lowering prices in the stores, continuing its policy of competitive prices. A very active pioneer for the development of local production, GBH, through its Carrefour banner, is a major player recognized by the agricultural sectors and by local manufacturers.

This acquisition project, which constitutes an opportunity for GBH, for Reunion Islanders and for the economy of the island, is part of the very long-standing anchoring of GBH in Reunion Island where, for 33 years, the group domain family has constantly invested, create jobs and participate in the development of the local economy.

This operation will enable GBH to reach the critical size required to face stiff competition that has grown strongly in recent years and will continue to grow.

Source: ipreunion

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