BCLP advising Carrefour on sale of Carrefour Romania based on an Enterprise Value of €823M

International law firm BCLP is advising Carrefour on its exclusive negotiations with Paval Holding for the proposed divestment of all Carrefour Group activities in Romania. The transaction is based on an enterprise value of €823 million and forms part of the strategic portfolio review launched by Carrefour in early 2025. Completion is expected in the second half of 2026, subject to customary regulatory approvals.

Carrefour Romania operates a significant retail network of 478 stores across the country, including 55 hypermarkets, 191 supermarkets, 202 convenience stores and 30 discount stores. In 2024, the business generated €3.2 billion in gross sales, representing approximately 3% of Carrefour Group sales. Paval Holding, the investment vehicle of the Paval family – owners of Dedeman, Romania’s leading home improvement retailer and one of the country’s most prominent entrepreneurial groups – intends to acquire all Carrefour operations in Romania.

The transaction further strengthens BCLP’s longstanding global relationship with Carrefour. The firm continues to support the retailer on a broad range of international strategic initiatives, such as its franchising strategy to enter 10 new African markets, including a significant partnership and market entry with Queens Supermarket PLC in Ethiopia; Carrefour’s partnership in India with Apparel Group; and franchise arrangements across Europe, the Middle East and Sub-Saharan Africa.

With a network of more than 15,000 stores in over 40 countries, Carrefour is one of the world’s leading food retailers. In 2024, the Group generated €94.6 billion in revenue. Its integrated store network employs more than 300,000 people, and over 500,000 people work under the Carrefour banner worldwide.

Led by Jinal Shah (UK Office Managing Partner, M&A & Corporate Finance) and Marie Johnson (Partner and Co-Head of Consumer & Retail Products), BCLP’s multidisciplinary, cross-office team is advising on all aspects of the proposed transaction. Romanian law advice is being provided by Nestor Nestor Diculescu Kingston Petersen (NNDKP), led by Partners Corina Dumitru (Corporate M&A) and Lavinia Ionita-Rasmussen (Real Estate and Construction).