Carrefour — M&A Activity 2026

Feb 12, 2026

Press release

February 12, 2026

Carrefour announces the sale of Carrefour Romania to Paval Holding based on an Enterprise Value of 823 million euros

Carrefour announces it has entered into exclusive negotiations with Paval Holding for the sale of all its activities in Romania. This operation is part of the strategic review initiated by Carrefour at the beginning of 2025. Paval Holding is the investment vehicle of the Paval family, leading Romanian entrepreneurs and owners of Dedeman, the national DIY leader and one of the country's greatest entrepreneurial success stories. The transaction is based on an Enterprise Value of 823 million euros.

Carrefour Romania operates a multi-format network of 478 stores¹ (including 55 hypermarkets, 191 supermarkets, 202 convenience stores and 30 discount stores), and generated gross sales (incl. VAT) of €3.2bn in 2024 and 2025e, representing approximately 3,5% of Group sales.

The completion of this operation remains subject to customary regulatory authorizations. It is expected to occur in H2 2026.

Alexandre Bompard, Chairman and CEO, Carrefour, said : "The sale of Carrefour Romania confirms the good progress of the portfolio review initiated in 2025. Following the major transactions completed over the past twelve months—notably the buyout of minority interests in Carrefour Brazil and the sale of Carrefour Italy—the Group is pursuing its transformation and refocusing on its three core countries. It is with this momentum that we will present the key pillars of our new strategic plan next Wednesday. I would like to thank all our colleagues at Carrefour Romania for their dedication, professionalism, and the service they provide to our customers, which have helped build a solid business. I am confident that the agreement reached with Paval Holding represents a great opportunity for their continued success."

Carrefour Romania - 2025 Results (estimated)

Net Sales	€2,770m
EBITDA	€173m
Recurring Operating Income (ROI)	€29m
IFRS 16 Debt	€308m

¹ At December 31, 2025

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Press release

February 12, 2026

Contacts

Investor Relations
Sébastien Valentin, Andrei Dragolici, Mathilde Novick
Shareholder Relations
Group Communications

Tel: +33 (0)1 64 50 79 81
Tel: 0 805 902 902 (toll-free in France)
Tel: +33 (0)1 58 47 88 80

About the Carrefour Group

With a multi-format network of over 15,000 stores in more than 40 countries, the Carrefour Group is one of the world's leading food retailers. In 2024, Carrefour generated €94.6 billion in revenue. Its network of integrated stores employs over 300,000 people, who contribute to making Carrefour the global leader in the food transition for all, providing high-quality, accessible, and affordable food every day. In total, more than 500,000 people work under the Carrefour banner worldwide. For more information, visit www.carrefour.com, or find us on X (@news_carrefour) and LinkedIn (Carrefour).