French supermarket retailer Carrefour has signed a deal to acquire its European rival Billa in Romania. According to transaction journal Mirsanu, the deal was made for approximately €96-€97m.
The acquisition will see Carrefour take over 86 Billa Romania supermarkets from German parent company Rewe Group. Billa originates from Austria, where its headquarters are located today. In Romania, Rewe Group also owns retailers including XXL, Penny Market and Selgros.
In a statement, Carrefour noted: “Through this acquisition, Carrefour would become the leading supermarket operator in Romania, strengthening its multiform offer to better serve its clients.”