entered an agreement<\/a> to buy a clutch of baby-food brands in Italy from US heavyweight Kraft Heinz.<\/p>\nIn a statement, NewPrinces said the deal is based on an enterprise value of \u20ac1bn ($1.18bn).<\/p>\n
As part of the transaction, Carrefour will reinvest \u20ac237.5m as a one-off contribution to the Italian unit changing hands \u201cto support its industrial relaunch and operational continuity\u201d, NewPrinces said.<\/p>\n
The food-and-drinks manufacturer said it is committed to investing \u20ac200m \u201cin development initiatives, logistics innovation and brand renewal\u201d.<\/p>\n
NewPrinces added: \u201cConsidering IFRS 16 and other extraordinary adjustments of the same nature, as well as the one-off cash contribution that Carrefour will reinvest by the time of closing, the resulting equity value of the transaction is \u20ac1.\u201d<\/p>\n
\u201cThe acquisition of Carrefour Italia represents a significant milestone in our group\u2019s growth trajectory,\u201d Angelo Mastrolia, the chairman of NewPrinces, said in a statement. <\/p>\n
\u201cWith this transaction, we are taking a decisive step towards vertical
integration between production and distribution, strengthening our ability to create value along the entire supply chain.\u201d<\/p>\n
Mastrolia added: \u201cWe have made the bold decision to invest in a strategic asset for Italy, with the aim of relaunching a widespread retail network and maximising synergies between industry and distribution. <\/p>\n
\u201cOur ambition is clear: to build a sustainable, solid and long-term model that can offer concrete benefits to customers, employees, suppliers and shareholders alike.\u201d<\/p>\n
Carrefour acknowledged the agreement with the Italian group alongside the publication of its second-quarter results yesterday (24 July). The retailer said its stores in Italy had gone through a \u201crecovery\u201d period from 2020 to 2022 but sales then declined last year.<\/p>\n
The same year, Carrefour Italia booked a \u20ac67m loss in recurring operating income and had negative free cash flow of \u20ac180m.<\/p>\n
\u201cThis operation covers all of Carrefour\u2019s activities in Italy. It will allow Carrefour to refocus on its key markets in Europe and Latin America,\u201d the France-based retailer said.<\/p>\n
With the deal, the owner of the Princes, Napolina and Delverde brands said it aims to \u201coptimise synergies\u201d between production and distribution and \u201cenhance\u201d its brand portfolio.\u00a0<\/p>\n
NewPrinces also hopes to \u201cdevelop new omnichannel platforms\u201d for the sale and delivery of fresh and packaged products and \u201cstrengthen\u201d its position in \u201ckey\u201d European markets.\u00a0<\/p>\n
The company added that the Carrefour stores in Italy generated around \u20ac3.7bn in sales last year and EBITDA of \u20ac115m. Post the transaction, the pro-forma consolidated turnover of the food and drinks group will reach circa \u20ac6.9bn, it said.<\/p>\n
In the first quarter of 2025, NewPrinces generated revenues of \u20ac672.2m, a dip from the \u20ac699.9m made in the corresponding period of 2024. EBIT stood at \u20ac28.9m, against \u20ac5.9m a year earlier. NewPrinces booked a first-quarter net profit of \u20ac13.5m, versus a loss of \u20ac2.2m the year previous.<\/p>\n
Aside from the agreement with Carrefour, NewPrinces is reportedly considering floating<\/a> the UK Princes unit on the London market in October.\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"Carrefour store signage. Credit: LCV\/Shutterstock.com NewPrinces is acquiring Carrefour\u2019s operations in Italy in a move the food and…\n","protected":false},"author":2,"featured_media":21785,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12904],"tags":[12908,16229],"class_list":["post-21784","post","type-post","status-publish","format-standard","has-post-thumbnail","category-carrefour","tag-carrefour","tag-newlat"],"_links":{"self":[{"href":"https:\/\/www.europesays.com\/france\/wp-json\/wp\/v2\/posts\/21784","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/france\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/france\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/france\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/france\/wp-json\/wp\/v2\/comments?post=21784"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/france\/wp-json\/wp\/v2\/posts\/21784\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/france\/wp-json\/wp\/v2\/media\/21785"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/france\/wp-json\/wp\/v2\/media?parent=21784"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/france\/wp-json\/wp\/v2\/categories?post=21784"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/france\/wp-json\/wp\/v2\/tags?post=21784"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
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