Carrefour

M&A Activity • Mar 15, 2018

Press release Boulogne-Billancourt, March 15th , 2018

Acquisition of QUITOQUE: CARREFOUR takes position in the Foodtech industry

Carrefour, one of the global leaders in food retail, announced today it has acquired a majority stake in the start-up Quitoque, leader of meal kit deliveries, and one of the French pioneers in Foodtech.

Created in 2014, Quitoque is the French leader in meal kits delivered at home. Through a subscription system, it offers each week varied and healthy recipes to be prepared at home with local, organic and seasonal products. Quitoque pays particular attention to the quality, freshness and taste of its products by favouring those of French origin. In 2017, the company, which has 60 employees, delivered nearly 3 million meals throughout France. Following the transaction, effective today, Quitoque will remain managed by its co-founders who will continue to develop the company alongside Carrefour.

This investment allows Carrefour to expand its food e-commerce offering. It is fully in line with the Group's ambition of creating an omnichannel universe of reference and becoming the world leader in the food transition for all.

"Carrefour constantly strives to be closer to its customers and to enrich the shopping experience by offering innovative services that simplify everyday shopping. At the crossroads of digital and food, Quitoque will enable us to strengthen our position in the Foodtech industry in order to provide an omnichannel response to new consumer habits through the combination of proximity, convenience and quality" said Marie Cheval, Executive Director Customers, Services and Digital Transformation at Carrefour.

According to Etienne Boix, co-founder of Quitoque: "This transaction confirms the relevance of our model and will enable us to capitalize on Carrefour's strengths to accelerate our omnichannel development".

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About Carrefour

For more information, visit www.carrefour.com, Twitter (@CarrefourGroup) and LinkedIn (Carrefour).

Group Communications Tel: +33 (0) 1 41 04 26 17 Investor Relations Tel: +33 (0) 1 41 04 28 83

With a multiformat network of 12,300 stores in over 30 countries, Carrefour Group is one of the world's leading food retailers. Carrefour serves 105 million customers worldwide and posted sales of 88.24 billion euros in 2017. The Group has more than 380,000 employees who contribute to making Carrefour the world leader in the food transition for all, offering quality food every day, accessible everywhere and at a reasonable price.

About Quitoque

Quitoque, launched in 2014 by Grégoire Roty, Etienne Boix and Céline Nguyen, is the French leader in meal kit deliveries. Accompanied since inception by 360 Capital, ISAI, NCI, Sophie Bascher (initial investor), Nicolas d'Audiffret (founder of AlittleMarket) and Sébastien Forest (founder of Alloresto), Quitoque has convinced thousands of homes throughout France thanks to a clear promise: to digitize everyday food shopping. Unlike pure delivery platforms, Quitoque has chosen to internalize the creation of recipes, the sourcing of products and the preparation of meal kits. The mastery of these skills has made it possible to build a quality and tailor-made offer as well as to ensure solid growth. For more information, visit www.quitoque.fr