In a groundbreaking deal that promises to shake up the retail landscape in France, Italian industrial group Rocca has announced an agreement with Auchan Retail France for the sale of Codim 2. This strategic move marks a significant shift in the dynamics of the French retail market, with Auchan Retail France set to benefit from the acquisition of Codim 2, a leading player in the home improvement sector.
The agreement, which was finalized after months of negotiations, will see Auchan Retail France acquiring 100% of Codim 2’s shares from Rocca. This move is part of Auchan Retail France’s strategic plan to expand its presence in the home improvement industry and strengthen its position in the market.
Codim 2, founded in 1998, has emerged as a major player in the home improvement sector, offering a wide range of products and services to customers across France. The company’s strong reputation for quality and customer service has made it a popular choice for consumers looking to renovate and improve their homes.
With the acquisition of Codim 2, Auchan Retail France aims to further enhance its offering in the home improvement sector and provide customers with a comprehensive range of products and services. The deal is expected to significantly boost Auchan Retail France’s market share and solidify its position as a leading player in the industry.
Commenting on the agreement, a spokesperson for Rocca stated, “We are delighted to have reached an agreement with Auchan Retail France for the sale of Codim 2. This deal represents a significant milestone for Rocca and reflects our commitment to driving growth and innovation in the retail sector. We believe that Auchan Retail France is the perfect partner to take Codim 2 to the next level and we are excited to see the company flourish under their ownership.”
Meanwhile, a spokesperson for Auchan Retail France expressed enthusiasm about the acquisition, stating, “We are thrilled to announce the acquisition of Codim 2. This deal represents a key strategic move for Auchan Retail France as we continue to expand our presence in the home improvement sector. We are confident that Codim 2’s strong brand and loyal customer base will complement our existing offering and drive growth for our business.”
The sale of Codim 2 is expected to be finalized in the coming months, pending regulatory approval. Both Rocca and Auchan Retail France are optimistic about the future prospects of the agreement and are committed to working together to ensure a seamless transition for customers and employees.
Overall, this agreement between Rocca and Auchan Retail France heralds a new era in the French retail industry, with Codim 2 poised to play a pivotal role in the growth and success of Auchan Retail France in the home improvement sector. Watch this space for more updates on this exciting development.