Aldi to pay 735 million euros for Casino’s Leader Price stores | Progresiv
Following months of talks, Casino has agreed on a deal to sell its 567 Leader Price stores and three related warehouses to Aldi France. The transaction has an enterprise value of 735 million euros. 
Once the deal is completed, the transferred Leader Price stores will be converted to the Aldi banner and “benefit from the commercial dynamics” of the discounter’s operations in France. The stores in question generated sales of over 2 billion euros last year.
Casino stated that it will retain ownership of the Leader Price brand in order to continue to operate it under certain conditions agreed with Aldi, in France and internationally.
The sale will take place after consultation with staff representative bodies and clearance from French competition authorities.
Casino has been selling off assets in recent years to lower its heavy debt burden. The group has faced intense price competition in its home market and challenges from online players such as Amazon. (www.kamcity.com)
