French group Carrefour has officially announced the signing of an agreement for the takeover of Cora stores in Romania, which will be rebranded under its own label and are expected to consolidate its position on the market.

Cora operates ten hypermarkets and eight proximity stores Cora Urban.

“Carrefour has full confidence in the hypermarket format and its strategic role for the local presence, being the main source for the weekly buying missions and meeting the basic needs of our customers,” said Carrefour Romania CEO Julien Munch.

The transaction is subject to approval by the competent competition authorities and is expected to be completed by the end of 2023.

iulian@romania-insider.com

(Photo source: Carrefour Romania)