The Casino Group will simplify its corporate structure in France

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Casino Group announced it plans to simplify its corporate structure by combining all of its food distribution activities in France, including Franprix, Monoprix, Distribution Casino France, Easydis and AMC, within a single holding company.

The new holding company will be 100% owned by Casino, Guichard-Perrachon, and will also “increase the readability” of the whole activity, the group said in a press release.

Financial report

It noted that its financial reporting segments and management structure would not change under the new corporate structure.

The Casino Group intends to inform the employee representative bodies concerned of its projects and to consult them in accordance with the applicable legal provisions.

It intends to complete this planned business simplification process by the end of 2022.

GreenYellow Sale

In May, Casino announced a process to sell its GreenYellow renewable energy unit, valued at around 1.5 billion euros. He appears to have received four preliminary offers for the unit and is looking to complete a potential deal by the end of this year.

Casino, which also recently announced that the group’s sales had returned to growth in the first quarter, has also embarked on the sale of non-strategic assets to reduce its debt in recent years.

Same-store sales across its network rose 3.2% in the quarter, an improvement from a 0.4% decline in the final quarter of last year.

Read more: Casino Group and Gorillas extend their partnership to Frichti

© 2022 European supermarket magazine – your source for the latest retail news. Article by Stephen Wynne-Jones. Click on subscribe register for ESM: European Supermarket Magazine.

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