- Carrefour (OTCPK:CRRFY) inked an agreement with Dairy Farm (OTCPK:DFIHY) to acquire Wellcome Taiwan, involving 224 proximity stores in quality locations as well as a warehouse. The transaction’s enterprise value is €97M.
- Wellcome Taiwan posted net sales of around €390M in 2019.
- Carrefour plans to convert the Wellcome stores to the Market banner within 12 months after the closing of the transaction, and then convert Jasons stores to a Carrefour premium banner.
- The transaction is expected to close by end of 2020.