Israeli retail chain Yeinot Bitan will convert 25 supermarkets into Carrefour stores by the end of 2022 at an investment of NIS 40 million. Three of these stores in Tel Aviv, Or Yehuda and Kiryat Gat will be completely new supermarkets. The existing supermarkets that will be converted into outlets of the French brand are all in central Israel including in Tel Aviv, Kiryat Ono, Herzliya, Rishon Lezion, Rosh Ha’ayin, and Ra’anana.
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Yeinot Bitan will convert 20 more supermarkets to the Carrefour brand in the first quarter of 2023. All the supermarkets will be designed by Carrefour themselves, according to the international standards of the chain. In the first stage, the branches will operate under the Super brand until the full entry of the chain into Israel but visually the supermarkets will be according to Carrefour’s concept.
Yeinot Bitan Group, which includes Mega, has 150 branches, and is the second biggest supermarket chain in Israel. In May 2021, Electra Consumer Products (TASE: ECP) owned by the Salkind brothers acquired control of the Yeinot Bitan Group at a company valuation of NIS 400 million.
In March 2022 Electra Consumer Products reached an agreement with Carrefour to be its Israeli franchisee for 20 years with an option to extend for a further 20 years.
According to National Retail Federation (NRF), Carrefour is the world’s seventh largest retail chain with 14,000 branches in Europe, the Middle East, East Asia, and Africa and annual sales turnover of €81 billion. It will be the first international food retail chain to operate in Israel.
Published by Globes, Israel business news – en.globes.co.il – on August 31, 2022.
© Copyright of Globes Publisher Itonut (1983) Ltd., 2022.
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