French multinational retailer Carrefour is set to acquire organic products retailer So.bio for an undisclosed amount.
The deal is expected to enable the company to develop the retail brand and expand its presence nationwide.
So.bio currently operates eight stores in the south-west region of France. It also plans to open two new stores in the coming months.
Carrefour organic market director Benoit Soury said: “So.bio is one of the best specialised organic store concepts in France because of the quality of its product range, its price positioning, the know-how of its teams, and its efficient management.”
The deal will also allow Carrefour to offer organic products across its distribution chain through So.bio specialist banner, an online sales offer with Greenweez, as well as by introducing organic sections in all traditional stores.
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These initiatives will allow So.bio to strengthen its organic products retailer business by leveraging Carrefour’s resources and skills.
So.bio co-founder Jean-Marc Lachat said: “This acquisition by Carrefour will enable So.bio to accelerate its development by capitalising on the complementary expertise and human and financial resources of the Carrefour Group.”
The deal is also in line with the Carrefour’s 2022 transformation plan and is subject to the approval of the relevant authorities.
Carrefour currently operates more than 12,200 stores in more than 30 countries under a wide assortment of formats and banners.