Carrefour in talks with Altarea Cogedim to buy Rue du Commerce
today Aug 24, 2015
Carrefour said on Monday that it is in exclusive negotiations with real estate group Altarea Cogedim to buy all of French e-commerce company Rue du Commerce to boost its non-food online retail business.
"With more than 5 million unique visitors per month, Rue du Commerce is a major player in the non-food e-commerce market in France and boasts a strong brand, significant traffic and an extensive client base," Carrefour said in a statement.
Altarea Cogedim said in a separate statement that Rue du Commerce, which it bought in early 2012, needed to team up with a major retailer to reach a critical size as competition intensifies.
The transaction is due to be completed in early 2016, Altarea Cogedim added. The amount of the deal was not disclosed.
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