Casino’s Codim 2 subsidiary manages four hypermarkets, nine supermarkets, three cash & carry and two drive-throughs in Corsica
Casino Guichard-Perrachon SA has signed an agreement with Rocca Group and Auchan Retail France for the sale of its Corsica unit as it seeks to raise cash amid a debt restructuring.
The French grocery store operator announced the move in a statement issued Saturday, but did not disclose the value of the deal. The company said last week it was in exclusive talks with buyers.
Casino’s Codim 2 subsidiary manages four hypermarkets, nine supermarkets, three cash & carry and two drive-throughs in Corsica. Its sales reached $332 million euros (US$355 million) in 2023, without taxes.
Under the terms of the agreement, Rocca Group will take over all Codim 2 stores, which will operate under the Auchan brand, as well as all store and head office employees.