Groupe Casino: Groupement Les Mousquetaires and Casino Group have completed the sale of a first set of 61 stores and extended their partnerships to include purchasing and supply

Groupement Les Mousquetaires and Casino Group have completed the sale of a first set of 61 stores and extended their partnerships to include purchasing and supply

Paris, 2 October 2023

Pursuant to the memorandum of understanding signed on 26 May 2023, Groupement Les Mousquetaires and Casino Group have agreed to the:

• sale of a group of 61 Casino France outlets (Hypermarkets, Supermarkets, Franprix and convenience stores) representing sales of €563 million excluding VAT (i.e., €621 million including VAT) for 2022, based on an enterprise value of €209 million, including service stations;
  
  
• extension of their purchasing alliance to include private-label food products. AUXO Private Label is already up and running and will soon be launching a fresh round of calls for tenders. In addition, the term of the three existing AUXO purchasing alliances has been extended by two years to 2028;
  
  
• signing of a supply agreement with Groupement Les Mousquetaires’ Seafood and Meat sectors, based on the know-how of Agromousquetaires.
  
  

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The above transactions were completed in Paris on 30 September 2023. Thus, Casino Group has collected the transfer price and Groupement Les Mousquetaires has already taken possession of 58 of the 61 sales outlets sold.

The stores' transfer to the Intermarché or Netto banners will take effect in October¹ further to the necessary conversion work.

In addition, under the agreements signed in May 2023, Casino Group granted a call option to Groupement Les Mousquetaires, exercisable within three years at the latest, for a second group of outlets representing €510 million in sales excluding VAT.

Groupement Les Mousquetaires acquired a 49% non-controlling interest in these outlets and made an initial lump-sum payment of €140 million to Casino, the 30^th of September 2023, which will be deducted from the final price calculated based on the market value of the assets.

Lastly, Groupement Les Mousquetaires granted a put option to Casino Group for an additional volume of stores representing €437 million in sales excluding VAT, exercisable over a period of three years, it being specified that Groupement Les Mousquetaires would make an initial lump-sum payment to Casino on exercise of this option, which would be deducted from the final price calculated based on the market value of the assets.

The parties state that they have consulted their relevant employee representative bodies and have complied with their obligations under competition law.

This press release was prepared solely for information purposes and should not be construed as a solicitation or an offer to buy or sell securities or related financial instruments. Likewise, it does not provide and should not be treated as providing investment advice. It has no connection with the specific investment objectives, financial situation or needs of any receiver. No representation or warranty, either express or implied, is provided in relation to the accuracy, completeness or reliability of the information contained herein. Recipients should not consider it as a substitute for the exercise of their own judgement. All the opinions expressed herein are subject to change without notice.

About Casino Group
Casino Group is a respected key player on the French retail market and an international leader in food retail, with more than 12,000 stores around the world (in France and Latin America). The Group has developed a portfolio of strong, dynamic and complementary banners, thanks to more than 200,000 employees driven by their passion for retail and customer service, and generated net sales of €33.6 billion in 2022. With a clear vision of changes in the sector, its goal is to accelerate the transformation of retail. To this end, all of the Group's distribution activities are positioned in high-potential formats: convenience, premium and e-commerce.

About Groupement Les Mousquetaires
Groupement Les Mousquetaires brings together 3,000 entrepreneurs who manage their various independent sales outlets in a commitment to enhancing the socio-economic fabric of their host communities. To meet the needs of its banners – Intermarché, Netto (food); Bricomarché, Brico Cash, Bricorama (DIY); Roady and Rapid Pare-Brise (mobility), Groupement Les Mousquetaires leverages its own network of support services, logistics hubs and 56 food plants, all located in France. Founded in 1969, it now employs 150,000 people to smoothly operate more than 3,100 convenient store locations across the country. Groupement Les Mousquetaires is also rolling out its banners in Belgium, Poland and Portugal. For more information, visit: www.mousquetaires.com

ANALYSTS AND INVESTORS CONTACTS
Christopher Welton – Tel: +33 (0)1 53 65 64 17
cwelton.exterieur@groupe-casino.fr
or
+33 (0)1 53 65 24 17
IR_Casino@groupe-casino.fr

PRESS CONTACTS
Casino Group – Communications Director
Nicolas Boudot – Communications Director - +33 (0)6 79 61 40 99
or
+33 (0)1 53 65 24 29 – directiondelacommunication@groupe-casino.fr

Agence IMAGE 7
Karine Allouis – Tel: +33 (0)1 53 70 74 84 – kallouis@image7.fr

Laurent Poinsot – Tel: + 33(0)6 80 11 73 52 – lpoinsot@image7.fr

Groupement Les Mousquetaires
PRESS CONTACT
Source RP : Michelle Kamar – 06 09 24 42 42 – michelle@source-rp.com

Charlotte Rabilloud – 06 62 03 28 34 – charlotte@source-rp.com

1 With the exception of the Confrançon store (01) which will be transferred later – the aforementioned figures do not take this store into account.

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• 2023 10 02 - PR ITM