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Casino, Guichard-Perrachon SA
M&A Activity • Oct 17, 2019
1183_iss_2019-10-17_8e7e1cff-20ef-4696-b9d4-b6d4eb3a2dd8.pdf
M&A Activity
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October 17th, 2019
Casino Group has signed agreements to sell 20 "A la Bonne Heure" and "Coeur de Blé" restaurants to Crescendo Restauration Group
Casino Group announced today that it has signed agreements to sell to Crescendo Restauration Group 20 restaurants under "A la Bonne Heure" and "Coeur de Blé" banners and the real estate of 6 restaurants operated by franchisees.
The agreements signed represent a total amount of approximately €20 million.
They provide for the continuation of the employment contracts of the restaurants' employees, in accordance with legal rules.
The sale is expected to be largely completed at the end of 2019, subject to the usual conditions precedent.
Created in 1992 by Christopher Shafroth, Crescendo Restauration opened its first restaurant in La Teste de Buch, Gironde, and now has 80 restaurants, operated under four banners: "Crescendo", "Jules & John", "Chez Jules" and "Les Comptoirs d'Alice".
CASINO GROUP
ANALYST AND INVESTOR CONTACTS:
Régine GAGGIOLI - [email protected] - +33 (0)1 53 65 64 17 Or +33 (0)1 53 65 24 17 - IR\[email protected]
PRESS CONTACTS:
Casino Group – Direction of Communication Stéphanie ABADIE - [email protected] - +33 (0)6 26 27 37 05 Or +33(0)1 53 65 24 78 - [email protected]
Agence IMAGE 7 Karine ALLOUIS - [email protected] Grégoire LUCAS - [email protected] - 33(0)1 53 70 74 84
Disclaimer
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. Similarly, it does not give and should not be treated as giving investment advice. It has no connection with the investment objectives, financial situation or specific needs of any recipient. No representation or warranty, either express or implicit, is provided in relation to the accuracy, completeness or reliability of the information contained herein. It should not be regarded by recipients as a substitute for exercise of their own judgement. All opinions expressed herein are subject to change without notice.
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