Casino, which operates well-known brands such as Monoprixand the Teract holding, run by the union of 188 agricultural cooperatives InVivo, announced on Thursday, March 9, their desire to merge.
The two companies have signed an “exclusivity agreement” with the aim of “reaching a binding agreement to create the French leader in responsible and sustainable distribution,” according to a press release.
A guest of BFM Business, Thierry Blandinières, CEO of InVivo, explains that in this context, we must “reinvent” the Casino.
“In the Casino group you have brands like Monoprix, Franprix that work very well, everything that is nearby, discount. On the other hand, we can always improve things, the large hypermarkets in general and therefore the Casino group hypermarkets are defeated”, he explained on the set of Good Evening Business on Monday.
Connecting the farmer with the engaged consumer
“So we have to find solutions to reinvent the hypermarket. We want to participate by redeveloping market areas, creating much more attractive and quality markets, connecting the farmer with the consumer and committed citizen. We must be able to respond to an expectation of the French” . consumers” stresses the manager.
Remember that Casino and Teract want to create two separate entities, one controlled by Casino and the other by InVivo, Teract’s main shareholder and agribusiness giant in Europe.
According to AFP, the first “would bring together the distribution activities in France”, with the more than 9,100 stores of the Casino group and “the experience in the operation of garden centers, pet stores and food” of Teract, which also owns the Louise bakeries, the Frais d’Ici and Bio&Co brands and the Gamm Vert and Jardiland garden centers.
Source: BFM TV
