Carrefour acquires 224 proximity stores in Taiwan

The international retailer will expand its Taiwan business with a €97 million acquisition.

Carrefour has entered into an agreement with Dairy Farm to acquire Wellcome Taiwan, consolidating its position as the leading multi-format food retailer in that market.

The transaction involves 224 proximity stores as well as a warehouse (including ownership of the real estate and land). The transaction’s enterprise value is 97 million euros. Wellcome Taiwan posted net sales of around 390 million euros in 2019.

This acquisition, carried out under attractive conditions, allows Carrefour to accelerate its development in Taiwan in the fast-growing proximity format. Carrefour will thus become the local number 2 in this format.

Carrefour currently operates 137 stores in Taiwan, including 69 proximity stores under the Market banner. The Group posted net sales in the country of 1,968 million euros, EBITDA of 209 million euros and recurring operating income of 83 million euros in 2019.