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Carrefour in talks with Altarea Cogedim to buy Rue du Commerce

By
Reuters
Published
today Aug 24, 2015
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 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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