Related Party Transaction • Sep 21, 2022
Related Party Transaction
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Press release Paris, 21 September 2022
Casino Group subsidiary Franprix and the Zouari Family have decided to extend their long-standing strategic partnership.
Their collaboration will help to drive the ongoing development of the banner and create new synergies, with a joint objective of opening 75 new stores.
Jean-Charles Naouri, Chairman and CEO of Casino Group, said: "I'm delighted to see the agreement between Franprix and the Zouari Family being renewed. Its early renewal will enable the Group to further accelerate the roll-out of the high-growth Franprix formats in urban and suburban areas. The new stores will join the 1,000 existing Franprix stores".
Moez-Alexandre Zouari, Chairman of the Zouari Family Office, added: "Twenty-five years ago, we jointly created Pro Distribution, in the firm belief that the convenience store format was promising, resilient and innovative. And still today, the format is meeting a genuine need among consumers. With our experience and expertise in the convenience format, our ambition is to accelerate our development and expansion plan for the years to come. We look forward to continuing the momentum with Casino Group".
Casino Group is a key and reputable player in the distribution market in France and a leader in the global food distribution market, with more than 11,000 stores worldwide (in France and Latin America). The Group has built a portfolio of solid, dynamic and complementary brands thanks to a workforce of more than 200,000 people driven by their passion for distribution and customer service and generated a net turnover of 30.5 billion euros in 2021. With a clear vision of the changes in the sector, its ambition is to accelerate the transformation of trade. This is why all of the Group's distribution activities are positioned on future-oriented formats: proximity, premium and e-commerce.
A specialist in the convenience store format and precision commerce, the Zouari Family Office is strategyorientated, with a keen focus on continued innovation to transform, digitalise and evolve these formats, while prioritising development and diversification. Today, the Zouari Family Office has become a key player in the French retail sector.
It is the main shareholder in Picard, the French leader in frozen food (1,100 stores), and has expanded into the non-food sector with the acquisitions of discount banners Stokomani and Maxi Bazar (300 stores)
ANALYST AND INVESTOR CONTACTS
Lionel Benchimol – +33 (0)1 53 65 64 17
[email protected] +33 (0)1 53 65 24 17 IR\[email protected]
Stéphanie Abadie – +33 (0)6 26 27 37 05 [email protected] +33(0)1 53 65 24 78 [email protected] Agence IMAGE 7
Karine Allouis – +33(0)1 53 70 74 84 – [email protected]
Aziza Bouster – +33 (0)6 07 96 30 91 – [email protected]
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